07/02/11 - REVIEW OF KEY BUSINESS EVENTS (February 2, 2011)

Дата публикации: Jan 19, 2012 10:15:55 PM

74 projects in oil and gas industry

As reported by “uzdaily.uz”, NHC “Uzbekneftegaz” plans to implement 74 projects worth 28.562 bln USD. 37 projects of the company were included in the list of ongoing and pending investment projects in the industry. The total cost of these projects amounts to 19.394 bln USD, of which 16.306 bln USD will be disbursed on new construction.

Investments in the framework of these projects will reach 12.388 bln USD in 2011-2015.

NHC “Uzbekneftegaz” will invest 1.858 bln USD of own funds into these projects, and foreign investments and loans will amount to 16.557 bln USD. The Uzbekistan Fund for Reconstruction and Development will provide loans of 826.4 mln USD, while commercial banks will extend further loans of 153.1 mln USD.

Additional 14 projects were included in the list of new investment projects in the industry, which are at the development stage. Their total estimated cost is 3.633 bln USD. In particular, 2.754 bln USD will be disbursed for the construction of new facilities. Also, 92.3 mln USD will be invested into modernization and reconstruction, and 785.5 mln USD for projects in other areas. Foreign investments and loans will amount to 2.023 bln USD, own funds of NHC “Uzbekneftegaz” – 966.2 mln USD, the UFRD will provide loans of 644 mln USD. NHC “Uzbekneftegaz” is also developing 23 projects that were included in the list of promising investment projects in the industry, which are at the preliminary examination stage. Estimated cost of these projects is 5.536 bln USD. Out of this, 4.692 bln USD will be disbursed for new construction and 844 mln USD for modernization and reconstruction.

Investments into fixed capital reached 15.409 trln UZS

In 2010, investments into fixed capital amounted to 15.409 trln UZS, 9.2% more compared with 2009, says “uzdaily.uz”. Public investments in 2010 amounted to 2.855 trln UZS, 0.3% less than in 2009. Private investments increased by 11.7% up to 12.554 trln UZS.

Investments from the state budget amounted to 1.136 trln UZS (an increase of 3.6% year-on-year), 63.8 bln UZS was invested by the Fund for Land Reclamation (+2.8%), 581.3 bln UZS – by the UFRD (+41.8%) and 498.3 bln UZS was invested from non-budgetary funds (-28.8%).

In 2010, foreign investments and loans guaranteed by the government amounted to 575.4 bln UZS (-11.3%). About 38.73% of private investments or 4.862 trln UZS was invested by companies (-6%). Savings of the population accounted for 2.43 trln UZS of private investments, foreign direct investments and loans – 3.864 trln UZS (-2.6%) and loans from commercial banks – 1.398 trln UZS (up by 1.9 times).

About 72% of investments were used for industrial construction, including about 38% to purchase equipment and advanced technologies.

Assets of NBU reached 9.314 trln UZS

Assets of National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) amounted to 9.314 trln UZS at the end of 2010, reports “uzdaily.uz”. The loan portfolio amounted to 3.672 bln UZS. The number of clients increased up to 2.375 mln. During 2010, the bank extended loans in foreign currency amounting to over 900.4 mln USD and 1.717 trln UZS in local currency.

During the reporting period, the bank serviced 114 investment projects worth 3.71 bln USD. 64.1 bln UZS was invested to modernize and to resume production. As of January 1, 2011 subsidiary companies of the bank produced goods worth 136.8 bln UZS, creating 5 825 new jobs. As part of project financing through foreign credit lines, the bank selected 253 projects worth 591.3 mln USD. The

bank extended loans of 355 bln UZS to small businesses using its own resources. Over 2 bln UZS loans were extended to small businesses using the resources of non-budgetary funds. In 2010, the bank issued 4.2 ths micro loans amounting to 44.2 bln UZS.

Deposits from individuals increased up to 348.9 bln UZS. Since the start of 2010, the bank issued 497.8 ths plastic cards, with the total number of cards exceeding 2 mln units. 728.8 ths cards or 32% of the total were issued in the framework of salary projects. During 2010, turnover of non-cash payments conducted through the trading terminals amounted to 881.3 bln UZS. Total number of terminal is 10 438.