The European Bank for Reconstruction and Development (EBRD) has announced that it has agreed to provide a US$25 million loan to Uzbekistan's Tashkent Pipe Plant (CHP) to support the company's modernization program and strengthen its production capabilities.
According to the statement, the financing will help the steel pipe manufacturer improve operational efficiency, expand production of higher value-added products and improve its environmental performance indicators.
Financing to support modernization
The loan will be used to finance investments aimed at modernizing the production capacities of thermal power plants. The project includes the installation of new equipment and technologies designed to improve production efficiency and product quality while reducing energy consumption. The EBRD said the investment will support the company's transition to more modern steel pipe production.
The key goal of the project is to improve energy efficiency across the company's operations. According to the statement, the modernization program is expected to reduce energy consumption and help reduce greenhouse gas emissions associated with production activities.
The bank said the project is consistent with its broader efforts to support sustainable industrial development and decarbonization initiatives in the region.
The financing is expected to help Tashkent Pipe Plant increase production of higher-value steel pipe products for domestic and export markets.
