Uzbekneftegaz and Gazmprobank hold negotiations
30/11/2021 12:45
Uzbekneftegaz and Gazmprobank hold negotiations
30/11/2021 12:45
Tashkent, Uzbekistan (UzDaily.com) – The Chairman of the Management Board of JSC "Uzbekneftegaz" Mehriddin Abdullayev held discussions with members of the delegation of JSC "Gazmprobank" headed by Alexei Matveev.
Successful work with Gazprombank, which is one of the largest Russian universal banks and holds a leading position in terms of private capital in the list of banks in Central and Eastern Europe. The bank also takes an active part in the implementation of the main projects of the company.
Today, within the framework of cooperation with Gazprombank, a bank loan in the amount of about US$1.1 billion has been attracted to finance strategic investment projects. At today’s meeting, the prospects for financing projects of Uzbekneftegaz and further cooperation were also discussed.
During many years of cooperation between the parties, mechanisms of effective influence have been formed, allowing to achieve significant results in the short term.
To finance the "Project for the production of synthetic liquid fuel based on purified methane at the Shurtan Gas Chemical Complex", recognized in the list of the largest enterprises in the world (by direction), amounts to US$2.3 billion in loans from banks in China, Russia and Korea, including loans from Gazprombank - US$120 million.
In addition, Gazprombank acted as a financial advisor: he played an important role in choosing a financial model for the project, took an active part in negotiations with banks in China and Korea and the conclusion of loan agreements.
As part of the Shurtan Gas Chemical Complex Production Expansion Project, which is a logical continuation of the GTL project, 430,000 tons of synthetic naphtha will be processed to further increase the production of 280,000 tons of polyethylene, 100,000 tons of polypropylene and 50,000 tons of pyrolysis distillate.
As a result of the meeting, it was decided to study promising areas of cooperation in terms of new promising gas chemical projects, the introduction of a banking support system for contracts, as well as studying experience in this area, and exchange the necessary information.
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