A consortium of international banks, including JPMorgan Chase, Citi, Societe Generale and Credit Suisse, provided NMMC with a $1.2 billion loan to implement the investment program.

The Navoi Mining and Metallurgical Combine (NMMC) has attracted a $1.2 billion loan from an international consortium of banks to implement an investment program, the press service of the plant reported.

An unsecured long-term syndicated loan was issued for a period of five years. The consortium of banks included American JPMorgan Chase and Citi, French Societe Generale, Swiss Credit Suisse, Chinese ICBC Standard and German Deutsche Bank.

In September last year, the Russian VTB announced that it would open a credit line for a total of $1 billion to finance NMMC’s investment program, the parties then signed a corresponding agreement.

NMMC plans for 2017-2026 to implement 27 projects for the modernization of existing and construction of new production facilities with a total value of more than $3 billion, their implementation will increase the production capacity of the plant by 30%.