BAKU, Azerbaijan, July 24. Uzbekistan's steel
producer Uzmetkombinat discussed financing options for strategic
investment projects with representatives of J.P. Morgan during a
meeting in New York, focusing on long-term funding, capital markets
and raw material development.
This was reflected in the statement by the Uzmetkombinat
Chairman and Chief Executive Officer Bahodir Abdullayev.
Uzmetkombinat Chairman and Chief Executive Officer Bahodir
Abdullayev and Deputy Chairman Hasan Haydarov met with officials
from the U.S. investment bank on July 24 to review financing
opportunities for the company's investment program, according to
the company.
The talks centered on securing funding for strategic projects
aimed at ensuring a stable supply of raw materials for the steel
producer. Particular attention was given to the Tebinbulak mining
project, which the company considers a key element of its long-term
raw material strategy.
"During the meeting, the parties discussed financing for
strategic investment projects aimed at ensuring a stable supply of
raw materials for Uzmetkombinat's production operations. Particular
attention was given to the prospects for implementing the
Tebinbulak project, which is considered key to strengthening the
company's raw material base." the statement said.
The sides discussed potential financing mechanisms for the
projects, including raising capital through international financial
markets, the use of modern financial instruments and opportunities
for establishing long-term cooperation.
Uzmetkombinat also presented its broader investment program,
outlining plans to expand production capacity, strengthen the
stability of raw material supplies and diversify sources of
financing to support future growth.
At the conclusion of the meeting, the parties agreed to continue
discussions on prospective investment projects and explore optimal
financing models to support their implementation, while expressing
readiness to develop a mutually beneficial long-term partnership,
the company said.
The Tebinbulak project is expected to play a central role in
strengthening Uzmetkombinat's raw material base and supporting the
company's expansion strategy. As part of its broader transformation
program, the company has been seeking to diversify funding sources,
improve corporate governance and increase its access to
international capital markets.
The meeting reflects Uzmetkombinat's ongoing efforts to secure
international financing for large-scale investment projects as it
pursues capacity expansion and greater integration into global
financial markets.
