NEWS AND EVENTS
May 30, 2012
Shortanneftegaz to construct new propane-butane mixture facility
The Government of Uzbekistan adopted a resolution “On measures on ensuring implementation of investment project “Construction of facility on propane-butane mixture at Shortanneftegaz (5th line)”.
The resolution was adopted in order to ensure deep processing of natural resource and increase production of liquefied gas.
Cabinet of Ministers approved feasibility study of investment project “Construction of facility on propane-butane mixture at Shortanneftegaz (5th line)” with the main technical and economic parameters.
The project will be financed due to own resources of Uzbekneftegaz for US$48.97 million and loan of the Fund for Reconstruction and Development (FRDU) of Uzbekistan for US$37.5 million.
The FRDU will be refinanced through Uzpromstroybank. The loan is issued for seven years with two year grace period. The interest loan is set at 7% APR plus 2% margin of refinancing bank.
Uzbekneftegaz is debtor and executive body, which is responsible for implementation of the projects, as well as effective use of the FRDU loan.
According to the document, expenses, related to repayment of main debt and interests, as well as commissions on loan, will be financed due to own resources of Uzbekneftegaz. (Source: UzDaily.com)