financing industrial sector projects in · pdf filemajor outcomes of economic reforms in...
TRANSCRIPT
FINANCING INDUSTRIAL SECTOR PROJECTS
IN UZBEKISTAN
Major outcomes of economic reforms in Uzbekistan
• Sustained high rates of economic growth (7-9% per annum on average), fueled mainly by internal factors
• Macroeconomic stability• Low inflation (below 7-8%)• Balanced foreign trade with sustainable surplus • 6 times growth of the official reserves in the past 5
years
Major outcomes of economic reforms in Uzbekistan
According to HSBC Global Research’s “The World in 2050” (January 2012):
• Uzbekistan is identified as one of the ‘fast-growth’ countries, who “…have made great progress in fundamentals.”
• The report projects a GDP growth of more than 11x and income per capita growth of close to 9x in the period until 2050 (in real terms).
• The report also estimates a 25-30% increase in Uzbekistan’s working population in the same period.
Major outcomes of economic reforms in Uzbekistan
Economist Intelligence Unit (March 2012):
• “Real GDP growth will remain solid in 2012-16”• “The risk of default is low, given Uzbekistan's
high level of foreign reserves relative to its external financing requirement”
• “The risk of a large depreciation of the som’s official exchange rate is reduced by robust inflows of export revenue”
• Established in 2006 by the Presidential Decree
•Charter capital 15 billion U.S. Dollars
•UFRD’s participation ensures successful accomplishment of
national projects
•UFRD provides assistance with its expertise, analysis and
liaison with local institutions at all levels
FUND FOR RECONSTRUCTION AND DEVELOPMENT
• Financing and co-financing investment projects with major contribution to economic development and structural reforms
• Providing loans for modernizing industrial enterprises in the key sectors of the economy
• Introduction of advanced, efficient and energy saving technologies
• Job creation • Contribution to sustainable growth
MAJOR OBJECTIVES
I. Core sectors
•Oil & Gas
• Chemical and Petrochemical
• Energy & Power
• Metals & Mining
• Transport & Communications
II. Infrastructure projects
AREAS of FINANCING
ACTIVITIES STATISTICSLo
ans
prov
ided
for
pro
ject
s Lo
ans
prov
ided
for
pro
ject
s
No. Stages Project value No of projects UFRD financing Financed on
1/10/12
1 Completed 3115.0 26 1295.6 1273.9
2 Current 11269.9 13 1928.6 1059.6
3 Planned 7276.3 31 1504.0
Total 21 661.2 70 4 728.2 2 333.5
Based on the Program of modernization and core infrastructure development in 2011 – 2015 UFRD has built up
portfolio comprising of 70 projects
mln.USD
PORTFOLIO STRUCTURE
Projects portfolio: 70 projects at financing and project development stages
Infrastructure 21%
Oil and Gas and Petrochemicals
36%Energy 17%
Chemical 11%
Mining 15%
Financing year on year:• 2007 – $61.6 mln.• 2008 – $151.1 mln.• 2009 – $460.0 mln.• 2010 – $509.7 mln.• 2011 – $702.94 mln.• 2012 – $738.1 mln. (expected)
ACTIVITIES STATISTICS
Completed projects
OIL AND GAS SECTORConstruction of a booster compressor stations at the Pamuk and Dengizkul gas fields
Projects value: total $150.4 mln./ UFRD $64.4 mln.
Outcome: increase gas production on average to 3.4 bln. m³ per year
Dates: strated operation in 2008 and 2010 CHEMICAL SECTOR
Construction of Dehkanabad Potash fertilizer plant 1st phase
Projects value: $124 mln./ UFRD $ 62 mln. / China exim bank $ 42 mln.
Outcome: 200 thousand tons per year
Dates: started operation in 2010 Reconstruction and modernization of AM-76 ammonia manufacturing at “Ferganaazot“
and “Maxam- Chirchik“ plants
Projects value: total $146.5 mln. / total UFRD $21.2mln.
Outcome: production increased to 40% and energy saving 14%
Dates: strated operation 2010
Energy sectorConstruction of combined power cycle generation at the Navoi thermal
power plant
Projects value: $542.2 mln./ UFRD $363.2mln.
Outcome: 478 MW/per year
Dates: 2009-2012 (expected start of operation in December)
Transport and Infrastructure Sectors Modernization of Air fleet of national airline company “Uzbekistan
Airways”
Projects value: $1080 mln./ UFRD $514.2 mln.
Outcome: 12 planes (A320 – 200, Boeing 767-300)
Dates: 2010-2013
Completed projects
Construction of Gas and Petrochemical Complex on the Ustyurt Surgil deposit with further field development
Projects value: $4031 mln./ UFRD $500 mln.
Output: 400 thousand tons / year of polyethylene and 100 thousand tons / year of polypropylene
Dates: expected start of operation in 2015 Expansion of Talimarjon TPP with the construction of 2 units of CCG capacity of 450 MW
each
Projects value: $1280.0 mln./UFRD $250 mln.
Output: 900 MW/year
Dates: expected strat of operation in 2015Construcuiton of portland cement and white cement plant in Jizzakh region
Projects value: $114.2 mln./UFRD $74.2 mln.
Output: 760 thousand tons/year of portland cement or 350 thousand tons/year of white cement
Dates: expected strat of operation in 2015
Ongoing projects
OUR PARTNERS- Asian Development Bank
- World Bank
- Japan International Cooperation Agency
- Qatar Investment Authority
- Islamic Development Bank
- State General Reserve Fund of Oman
- Korea Development Bank
- Korea Export-Import Bank
- International Petroleum Investment Company
- KSURE
- Malaysia Export-Import Bank
- China Development Bank
- The Export – Import Bank of China
- Kuwait Fund for Arab Economic Development
- Czech Export Bank
UZBEK-OMAN INVESTMENT COMPANY
Project Uzbek-Oman Investment Company
Established 2010
Capital $500 mln.
Objectives Equity investments
Shareholders UFRD 25%, SGRF 75%
Fund for reconstruction and development of Uzbekistan
Tel: +998 71 2385648
Fax: +998 71 234 0157
101 Amir Temur Street
Tashkent |Uzbekistan|100084
http://ufrd.uz
CONTACT US