Uzmetkombinat and China’s CSCEC International have agreed to implement new investment projects in Uzbekistan, including an energy storage system with a capacity of up to 150 MW and the transformation of Bekabad into a modern city known as New Bekabad. The meeting with the Chinese delegation followed earlier negotiations held during a visit by Uzmetkombinat…
A delegation from Uzbekistan’s Uzmetkombinat visited Trina Storage’s production facility in Chuzhou, China, on August 26 to examine battery energy storage systems and discuss their potential use at the steelmaker’s production facilities. The visit was organized by All Solar, a distributor of Trinasolar solar modules in Uzbekistan. During the visit, Uzmetkombinat representatives reviewed the production…
Uzmetkombinat has commissioned a steel grinding ball rolling complex with an annual production capacity of 300,000 tons. The facility was launched under the leadership of Uzmetkombinat Chairman of the Management Board and CEO Bahodir Abdullaev. The project was completed in four months. The new production facility will manufacture 40 mm and 50 mm steel grinding…
JSC Uzmetkombinat and SINO STEEL Engineering & Research Incorporation Limited have discussed the implementation of projects to expand the enterprise’s metallurgical capacity, including the construction of a new blast furnace and the commercial development of several deposits. The negotiations took place in China during a business trip by a delegation from Uzmetkombinat, according to JSC…
Uzbekistan’s Uzmetkombinat and global financial institution Citi have signed a memorandum of understanding (MoU) to expand cooperation in international debt capital markets. The document was signed following a meeting in New York on July 24 attended by Uzmetkombinat Chairman and Chief Executive Officer Bakhodir Abdullayev, Deputy Chairman for Finance, Economics and Transformation Hasan Khaydarov, and…
A delegation from Baosteel Europe GmbH visited Uzbekistan’s Uzmetkombinat for working talks on expanding cooperation, implementing investment projects and introducing modern technologies in the metallurgical sector. During the visit, the delegation toured the company’s production facilities, including its casting and rolling complex. The parties discussed expanding mutually beneficial trade and economic cooperation, exchanging expertise and…
International rating agency Fitch Ratings has downgraded the long-term Issuer Default Rating (IDR) of JSC Uzbek Metallurgical Plant (UMK) to “B” from “B+”. The rating outlook remains Positive. The agency attributed the decision to a slower-than-expected ramp-up of the new flat-rolled steel production complex to its design capacity. According to Fitch, reaching planned targets will…
President of Uzbekistan Shavkat Mirziyoyev participated in the commissioning ceremony of a new casting and rolling complex at the Uzbek Metallurgical Plant (Uzmetkombinat) during a trip to Bekabad. The new production facility has become the country’s first project for the production of hot-rolled sheet metal. Speaking at the ceremony, the head of state congratulated the…