Metalloinvest has become a shareholder of the Tashkent Metallurgical Plant

Metalloinvest, a part of USM holding, became a shareholder of Tashkent Metallurgical Plant in 2022. This was announced by the General Director of the company Nazim Efendiyev at the International Industrial Exhibition "Innoprom. Central Asia", Kommersant reports.

A spokesman for the company did not disclose details of the deal, but added that Metalloinvest would manage production in partnership with the Fund for Reconstruction and Development of Uzbekistan.

Efendiyev noted the huge potential of Uzbekistan in the metallurgical industry. However, he noted that this is hampered by logistical difficulties - the distance from seaports and "strong trade markets”.

He also complained about railway tariffs between Russia, Kazakhstan and Uzbekistan. The price of semi-finished products will rise as they cross each border, he told Russian Industry and Trade Minister Denis Manturov.

The head of Metalloinvest plans to discuss tariffs with the management of Uzbekistan Railways. In response, Uzbek Deputy Prime Minister, Minister of Investment and Foreign Trade Sardor Umurzakov said that the government would investigate the problem and the Uzbekistan Railways would report about this.