21/11/11 - REVIEW OF KEY BUSINESS EVENTS (November 17, 2011)

Дата публикации: Jan 19, 2012 10:16:18 PM

«General Motors» opens engine plant in Uzbekistan

«General Motors» opened a new state-of-the-art engine plant in Tashkent, «Podrobno.uz» said with reference to the press service of the company. It represents GM as the most significant powertrain investment in Central Asia. GM has a 52% stake in «GM Powertrain Uzbekistan» and its partner, «UzAvtosanoat», has a 48% stake. The facility, which covers 40 hectares, is GM’s first engine plant in Uzbekistan. It will produce more than 225 000 new fuel-efficient «Ecotec» 1.2L and 1.5L engines for use in GM small passenger cars sold around the world. The first engines produced at the plant starting this month will be installed in the «Chevrolet Spark» mini car that commands 94% share of the Uzbekistan domestic market and is exported to Russia and the Commonwealth of Independent States. The new facility, which will employ up to 1 200 people, has adopted cutting-edge computer equipment to enhance precision and ensure high build quality and the flexibility to switch between production of engine variants in line with changing market demand. GM has also employed advanced environmental-protection processes throughout the facility, including the most modern wastewater treatment technology in Uzbekistan. The Uzbekistan plant joins facilities in China and Korea as a producer of GM’s new «Ecotec» 1.2L and 1.5L engines. Both engines use a cast-iron block and aluminum head, with dual overhead camshafts and four valves per cylinder. They are both «Euro-5» emissions compliant.

«Lukoil Uzbekistan» and Malaysian «KNM» have signed a contract

«Lukoil Uzbekistan» and Malaysian firm «KNM Progress Systems» have signed a contract to build a booster compressor station on the Khauzak-Shady field worth about 72 mln USD. According to the contract, «KNM» will develop working documents, supply equipment and render services for the supervision, installation, commissioning and staff training, «Anons.uz» reported with reference to the press service of the company. The contract’s implementation term is about two years. The Malaysian company won a tender to construct a booster compressor station in May of this year. Earlier, «KNM» won three-year tender «Lukoil Uzbekistan» for 216 mln USD in November, 2010. «KNM» received notification on the successful bid to supply technical documentation and equipment for the development of gas condensate fields – Adamtash, Gumbulak and Djarkuduk - Yangi Kizilcha («South-West Gissar» Project). Currently, the total oil production from the South Kizilbayrak and Koshkuduk fields is over 100 000 tons of oil a year. «Lukoil Uzbekistan» plans natural gas production over one billion cubic meters of gas by late 2011 under this project.

«Uzbekneftegaz» launches new BCS «Dengizkul»

NHC «Uzbekneftgaz» launches booster compressor station «Dengizkul» with capacity 3 billion cubic meters of gas a year. BCS «Dengizkul» will increase natural gas production and gas condensate recovery, «Olam.uz» said. The facility was realized within the framework of the project «Reconstruction of facility on preliminary gas preparation «Degizkul» with construction of compression booster station» valued over 77 mln USD. In line with the feasibility study, the project implementation will allow to use deposit till 2025. It will also allow to increase natural gas production to 20 billion cubic meters and gas condensate for 67 000 tons. The project financed due to own resources of NHC «Uzbekneftgaz» about 23 mln USD, credits of Fund for Reconstruction and Development of Uzbekistan in amount of 22,8 mln USD and Korea Development Bank - 17,1 mln USD. Trading results on the RSE «Toshkent» By the results of an auction of securities at the RSE «Toshkent», more than 11,73 mln shares of OJSCB «Aloqabank» for 104 UZS per share (total of 1,2 billion UZS) were sold on the primary market, November 17, 2011.