JP Morgan Chase for the first time agreed to finance a project in Uzbekistan, Dunyo reports.
JPMorgan Chase is one of the oldest financial institutions in the United States. With a history dating back over 200 years, it has over 250,000 employees. It is a leading global financial services firm with assets of $2.6 trillion.
The American holding will provide a credit line for the construction of a float glass factory in the Fergana region. The amount of the agreement signed in Moscow is €36.4 million with a maturity of seven years under the insurance coverage of Sinosure, the Chinese export credit agency.
The project will be undertaken by the Quartz company. The plant will produce polished glass using energy-efficient technologies.
The maximum daily output is 400 tons. The supplier of technological equipment is the Chinese company Shanghai Pony Technologies.
It is expected that the project will not only allow the creation of up to 300 new highly qualified jobs, but also provide the domestic market with quality products with their further export to other countries.