Turonbank customers...
“Moxsar” Oil Refinery plant!
The development of industries, stability of the business environment and an increase in the business activity index are among the most important factors in Uzbekistan's development strategy. Of course, economic activity in the regions plays an important role in this regard. For example, in Samarkand, which is considered to be the largest region in terms of population, more than 6 thousand industrial enterprises are operating at the same time, and their number is significantly increasing due to new capacities.
In particular, the Uzbek-Korean joint venture, which started its activities under the brand name “Mokhsar” in Jambay district of the region, is the proof of our words. The project initiators intend to produce competitive and import-substituting fuel for the local market by refining oil products.
At the moment, only oil refinery plants “Oltiarik”, “Ferghana” and “Bukhara” are operating in our country. But thanks to the initiatives of the Head of our state, an opportunity is being created for businessmen who want to establish their business in this direction. In particular, the Uzbek-Korean joint venture “Mokhsar”, which has implemented a project on oil refining on an area of 12 hectares in Jambay district of Samarkand region, is a clear confirmation of this. The company seeks to localize import of diesel products to our country. That is, thanks to the processing of raw materials at the plant, it is here that it is planned to bring different types of fuel, such as gasoline and diesel, to the local market.
The total cost of this project is USD 5.5 million, of which USD 2.9 million is foreign investment.
– These places you see were lands with a low level of fertility. As a result of the great opportunities created for entrepreneurs by the initiatives of our President, we were able to realize this major project. About 70 new jobs have been created, 30 of which are for young people. We intend to produce products worth UZS 388 billion per year, of which UZS 20 billion will be directed to the budget. By attracting modern technologies, we have brought the level of localization to 50%. In the future, we plan to organize filling stations under the brand “Mokhsar”. We are implementing our project through Turonbank, working with the bank in all financial directions,” – said Jasur Rakhmanov, First Deputy Director of “Mokhsar” LLC
According to the data provided by Bakhtiyar Yulchiev, chief technologist of the refinery plant, the refinery's processing capacity is 97 thousand tons of oil products per year, and no excess waste is generated from it.
Such projects will further increase the economic potential of the region and create new jobs.
