The session summed up results of social-economic development of Uzbekistan for 2012 and approved main perspectives of economic programme for 2013.

President Islam Karimov said that the country attracted local and foreign investments in equivalent to US$11.7 billion in 2012, which grew by 14% compared to 2011.

At the same time, over 22% of all investments or over US$2.5 billion were foreign investments, of which over 79% was foreign direct investments, the Uzbek leader said.

He said that about 74% of all investments in 2012 were directed to production sector, first of all to implement projects and programmes on modernization and update of capacities.

Uzbekistan completed construction of 205 large investment projects and over US$1.6 billion of capital investments were utilized in the process, he said.

Speaking about largest completed projects in 2012, Islam Karimov noted about installation of combined-cycle facility at Navoi thermal power station. The capacity of the facility, produced by Japan’s Mitsubishi, is 478 megawatt.

Uzbek President said that the project was financed due to own resources of Uzbekistan and will allow to produce 2.8 billion K.W.H. electricity a year and decrease consumption of standard coal by 1.8 times. This will help to save 400 million cubic meters of gas a year or over US$110 million.

He also recalled that joint venture with Germany’s MAN has been launched in Samarkand region. He said that it was the second stage of the project on construction of new complex on production of trucks with the capacity of 3,000 units a year. He said modern high-technologic plant was created.

He said that capacities on production of liquefied gas were launched at Mubarek gas processing plant. Its capacity is 258,000 tonnes of liquefied gas and 125,000 condensate a year. The facility on production of propane-butane mixture was commissioned at Shortanneftegaz with the capacity of 50,000 tonnes of liquefied gas, he said.

Islam Karimov said that works on construction of the second line of Dehkanabad potash fertilizers with the cost of US$250 million, which will help to raise the plant’s capacities up to 600,000 tonnes of potash fertilizers a year. Some 350,000 tonnes of them will be exported.

Uzbek leader said that construction of unique Ustyurt Gas Chemical Complex at the base of Surgil field has been started. The project cost is over US$2.5 billion. The construction will be completed in 2016 and it will allow process 4.5 billion cubic meters of natural gas and produce 400,000 tonnes of polyethylene and 100,000 tonnes of polypropylene.

The project is one of advanced projects in the works and envisages introduction of gas chemical technologies of latest generation, which will ensure to extract 95% of ethane, propane and other valuble components from gas, he said.

He added that leading foreign banks are participating in the project on principle of project financing without guarantee of the government.

“In 2012, Uzbekistan started to implement large perspective project with the cost of over US$4 billion on production of synthetic liquid fuel based on cleaned methane. The project is implemented with Sasol of the South Africa and Malaysia’s Petronas,” he said. Uzbek leader said that it will produce synthetic liquid fuel – liquefied gas, jet kerosene and diesel fuel of premium-class.