JPMorgan Chase Bank allocates a credit line for investment project implementation in Uzbekistan
American JPMorgan Chase Bank will finance construction of a float glass factory in Uzbekistan.
The signing ceremony of a structured export credit agreement of an international standard between JPMorgan Chase Bank and Asaka Bank was held on August 8 this year, in Moscow.
The event, held at Moscow office of the holding, was attended by senior officials of JPMorgan Chase Bank and Asaka Bank, as well as representatives of Uzbekistan’s Embassy in Russia.
The amount of the signed agreement is 36.4 million euros with a maturity of 7 years under the insurance coverage of Sinosure, China Export and Credit Insurance Corporation.
The agreement provides for financing of a project in the city of Kuvasay in Fergana region, JSC Quartz for production of polished float glass using energy-efficient technologies.
The maximum daily output is 400 tons. The supplier of technological equipment is China’s Shanghai Pony Technologies company. According to experts, implementation of the project will not only create up to 300 new highly qualified jobs, but also provide the domestic market with qualitative products with their further export to other countries.
It should be noted that JPMorgan Chase Bank for the first time agreed to allocate a credit line for implementation of an investment project in Uzbekistan.