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Uzbekistan sets big goals in the metallurgical sector

Uzbekistan is preparing to make a major breakthrough in the metallurgical sector. The country has announced a goal to double the size of its economy by 2030 by developing its metallurgical enterprises.

Uzbekistan sets big goals in the metallurgical sector

In the last six years, the share of metallurgical enterprises in the total industrial volume increased from 10 percent to 17 percent, and their share in budget revenues increased from 11 percent to 25 percent. More than 7 billion dollars has been invested in this sector.

In January 2024, the share of the metallurgical industry in the manufacturing industry structure reached 30.9 percent, the physical volume index increased by 6.0 percent, and the production volume increased to 2.68 billion dollars.

In total, Uzbekistan's mining and metallurgical enterprises produced products worth 9.4 billion dollars for 2023. 741 million dollars of this came from iron metallurgy production.

According to experts, Uzbekistan's crude steel production will reach 1.5 million tons in 2022.

The main producer Uzmetkombinat JSC, which has a share of approximately 90% in the country's steel industry, produced 921,000 tons of crude steel in 2023.

In 2023, rolled product production at Uzmetkombinat decreased by 3.7 percent to 1,028 million tons.

In exports, 90 million dollars worth of products were sold in 2023, 69 million dollars of which consisted of 96,000 tons of steel products.

The main product types of ferrous metallurgy of Uzbekistan are long products, sheet-rolled products and pipes.

While iron ore mining has not been carried out in Uzbekistan for a long time, special attention has recently begun to be given to the development of the Tebinbulak iron ore deposit. While most of the country's metal production is based on remelting scrap metal, according to estimates, the country has more than 1.2 billion tons of iron ore reserves. In 2023, a project called Triangul Metals Tebinbulak was launched in the Karauzyak region of the Republic of Karakalpakstan. This project, planned to be implemented this year, is expected to supply up to 1.8 million tons of iron ore annually to the domestic market.

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SteelRadar Insight - Sayı 1 (Haziran 2024)

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