Indian-backed company to invest $650 million in copper production in Surkhandarya

The India-backed company Glokal Yevroaziya plans to mine and process 10,000 tons of copper annually in Uzbekistan’s Surkhandarya region, the regional administration reported.

Governor of Surkhandarya Ulugbek Kasimov met with the company’s head, Iqbal Muhammad, to discuss plans for copper ore extraction at a deposit in the Uzun district, as well as purification and processing operations.

Glokal Yevroaziya intends to establish a facility capable of producing and refining 10,000 tons of copper per year. The total project cost is estimated at $650 million.

The first two stages of geological exploration at the promising site have already been completed. Construction of the plant is currently underway and is expected to create 350 jobs.

During the meeting, the parties also discussed additional proposals to establish educational and healthcare institutions in the area. They agreed to prepare a feasibility study and preliminary agreements for the project’s implementation, as well as to accelerate the construction process.

Earlier in October, Mirziyod Yunusov, head of Uzeltehsanoat, reported at a presidential meeting that Uzbekistan plans to increase its copper production to 250,000 tons, and to 500,000 tons by 2030. Following the meeting, Davron Vakhabov, chairman of the Chamber of Commerce and Industry, said that the president had approved a proposal to introduce an export duty on copper wire.