BAKU, Azerbaijan, August 10. Uzbekistan's
Uzmetkombinat and Chinese metallurgical company BAIGONG STEEL have
signed a memorandum of cooperation covering the development of
mineral deposits, steel production and other investment
projects.
This was reflected in the statement by the Uzmetkombinat.
The agreement was reached during a visit to China by a
delegation from Uzmetkombinat led by Chairman Bahodir Abdullayev,
which held talks with BAIGONG STEEL's management on expanding
cooperation in the metallurgical sector.
The sides discussed the development of the Tebenbuloq deposit in
Karakalpakstan, Temirkon in Jizzakh region and Zakkan in
Surkhandarya region, including the assessment of reserves and the
introduction of modern technologies for mining and processing raw
materials.
The companies also explored opportunities to strengthen
Uzmetkombinat's long-term raw-material base and increase the
production of new types of metallurgical products using locally
sourced mineral resources.
"During the negotiations, special attention was paid to the
issues of forming a long-term and sustainable raw material base of
Uzmetkombinat through the development of these deposits, expanding
opportunities for the production of new types of metallurgical
products based on local resources," the statement said.
A separate focus was placed on expanding cooperation in the
production of flat steel products. The parties discussed attracting
advanced technologies and production expertise, expanding the
product range and developing manufacturing of higher-value finished
metal products.
Uzmetkombinat and BAIGONG STEEL also considered the potential
introduction of blast furnace technology at the Uzbek company. The
proposed approach would help establish an integrated production
chain, from the extraction and processing of raw materials to the
production of finished steel products.
The memorandum is expected to provide a framework for further
cooperation on mining projects, flat steel production and other
investment initiatives in Uzbekistan's metallurgical industry.
The agreement comes as Uzmetkombinat seeks to strengthen its
resource base, expand domestic mineral processing and attract
international technologies and investment into the country's metals
sector.
