III Tashkent International Investment Forum

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08.05.2024 08.05.2024 928

PRESS RELEASE

Joint Stock Company “Uzbek Metallurgical Plant” (RSE: UZMK) (hereinafter – Uzmetkombinat JSC, the “Company”), a leading producer of ferrous metallurgy products in Uzbekistan, announces its successful participation in the III Tashkent International Investment Forum, as well as related events and meetings with international partners and suppliers.

The President of the Republic of Uzbekistan Sh. M. Mirziyoyev spoke at the opening of the Forum, reaffirming the country's commitment to the comprehensive reforms initiated, as well as announced new privileges and preferences aimed at attracting investment in the economy of Uzbekistan.

On May 3, 2024, Deputy Chairman of the Board, Financial Director of Uzmetkombinat JSC, Tatyana Budey, spoke at a panel discussion organized by “Avesta Investment Group” dedicated to the issues of attracting foreign investments in companies of Uzbekistan. Over 50 senior executives, investment managers and business owners attended the event.

In her speech T.A.Budey told about the history of obtaining credit and ESG ratings of Uzmetkombinat JSC, change of attitude of partners and investors to the image of the company, progress of construction of the project “Construction of foundry-rolling complex”. It was noted that obtaining ratings and reporting according to international standards is a basic set, which is necessary for any company wishing to attract funds from foreign investors.

In addition to representatives of Uzmetkombinat JSC, the event was attended by heads of other state-owned mining companies, EBRD, financial sector companies and private companies of the country considering the possibility of attracting external investments.

During the Forum, representatives of Uzmetkombinat JSC held working meetings with representatives of leading foreign banks, development banks, international consultants and specialists in ESG projects development.

Note:

JSC Uzmetkombinat is the leader of ferrous metallurgy in Uzbekistan, counting its history from 1944. Its manufacturing plant has an installed annual capacity of more than 1 million tons of rolled products and is implementing a large-scale investment program to increase capacity to 2.5 million tons per year during 2021-2025. The enterprise employs more than 11,000 people. Its products are sold in all regions of the country and are exported to various countries of the world, including Europe. More than 90% of the company's shares are owned by the Uzbekistan state. A significant portion of the company’s shares is traded on RSE “Toshkent”. Common and preferred shares of the company have the status of highly liquid.

For further questions, please contact:

Timur Sharifullin – t.sharifullin@uzbeksteel.uz

Avesta Investment Group LLC is a leading investment company founded in Tashkent in 2003. The company specializes in providing financial consulting services, arranging debt financing and equity investments, conducting mergers and acquisitions (M&A), as well as preparing analytics on markets and companies. The company's main clients are foreign portfolio and strategic investors, as well as private companies and publicly traded companies from the region. Since 2010, the company has been the exclusive partner in Uzbekistan of AuerbachGrayson, a New York-based brokerage company represented in more than 120 countries.