RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of December 4, 2014 No. PP-2269

About measures for the organization of construction of the plant of industrial rubber products in the territory of the free economic zone Angren

For the purpose of the organization of national production of agricultural and car tires, conveyer belts and on this basis of providing high-technology industrial enterprises of the republic with competitive products, creations of new workplaces, employment and growth of the income of the population:

1. Take into consideration that:

the preliminary feasibility statement on the investment project "Production organization of conveyer belts, agricultural and car tires in the territory of SIZ "Angren" is in accordance with the established procedure approved;

following the results of direct negotiations of Directorate on Construction of the Plant of Industrial Rubber Products LLC SAC Uzkimesanoat the contract with the company "is signed by Poly Technologies Inc." (People's Republic of China) on construction of the plant on release of 100 thousand running meters of conveyer belts, 200 thousand pieces of agricultural tires and 3000 thousand pieces of car tires a year on a turnkey basis on the amount 183, 96 million US dollars;

JSC Uzavtosanoat reaches the agreement with the General Motors company (USA) upon picking of the cars made by JSC Dzhi Em Uzbekistan, car tires of local production on condition of successful passing by the specified products of certification and laboratory tests according to international standards and requirements of the General Motors company.

2. Agree with the offer of the Ministry of Finance, Goskomkonkurention of the Republic of Uzbekistan, SAC Uzkimesanoat, JSC Uzavtosanoat, JSC Almalyksky MMC and GP "Navoiy MMC" about increase in authorized capital of Directorate up to the amount equivalent to 30 million US dollars, with equity in it SAC Uzkimesanoat in the amount of 50 percent, JSC Uzavtosanoat - 30 percent, JSC Almalyksky MMC and GP "Navoiy MMC" - on 10 percent.

3. Determine sources of financing of the project "Production organization of conveyer belts, agricultural and car tires in the territory of SEZ "Angren":

the credit of Fund of reconstruction and development of the Republic of Uzbekistan in the amount 27, 60 million US dollars provided to Directorate for payment of advance payment in the amount of 15 percent of cost of the contract, refinanced by GAKB of Usak, for a period of 10 years, including grace period 3 years, with annual interest rate 2,25 rate per hundred, including margin of the refinancing bank in the amount of annual interest rate 0,25;

preferential long-term foreign credits to the amount 156, 36 million US dollars refinanced by GAKB of Usak with brand of the refinancing bank in the amount of annual interest rate 0,25, 85 percent of cost of the contract attracted to payment;

means of founders of Directorate in the amount 30, 0 million US dollars for interest payment and the commissions on servicing of the soft long-term foreign credits, the credits of Fund of reconstruction and development of the Republic of Uzbekistan and GAKB of Usak, and also for forming of original working capital, carrying out project and surveying works, technical maintenance, examination and content of directorate.

GAKB of Usak together with the Ministry of Foreign Economic Relations, Investments and Trades, the Ministry of Finance of the Republic of Uzbekistan and SAC Uzkimesanoat to work with foreign banks and other financial institutions attraction of soft long-term loans for joint financing of the specified project in a month.

4. Determine that:

the executive body responsible for target and effective use loan and borrowing facilities and timely project implementation, is SAC Uzkimesanoat;

borrower on the loans attracted within the project is Directorate on Construction of the Plant of Industrial Rubber Products LLC SAC Uzkimesanoat which performs repayment of principal debt, interest payment, the commissions and other expenses on servicing of the credits by own and raised fund of development and support of the organizations of the chemical industry in case of SAC Uzkimesanoat.

5. Authorize the Minister of Finance of the Republic of Uzbekistan to issue guarantees of the Republic of Uzbekistan according to obligations of Directorate on the currency loans of Fund of reconstruction and development of the Republic of Uzbekistan and foreign banks attracted within implementation of the specified project.

6. To provide to the state committee of the Republic of Uzbekistan on investments issue of the conclusion under the contract signed between Directorate and the company "Poly Technologies Inc." on the basis of the cost created following the results of negotiations with condition of disaggregation and examination of specifications of the equipment and materials in process of project implementation, using the mechanism of pre-shipment inspection and price examination.

7. Resolve Directorate on Construction of the Plant of Industrial Rubber Products LLC and SAC Uzkimesanoat within implementation of the specified project:

together with the company "Poly Technologies Inc." to perform till January 1, 2016 construction works along with development of the project documentation;

attract, on the basis of competitive selection, independent international consultants to determination of compliance of project decisions to requirements of international standards and the General Motors company for reliability and safety of operation of objects, and also maintenance and test authority;

together with Fund of reconstruction and development of the Republic of Uzbekistan and GAKB of Usak to open financing before approval of the feasibility statement on the project under the import contracts which passed the examination in the State committee of the Republic of Uzbekistan on investments, and also on the contracts signed with domestic contractors and suppliers.

8. SAC Uzkimesanoat to provide approval of authorized bodies of examination and entering into the Cabinet of Ministers of the Republic of Uzbekistan of the feasibility statement on the project till July 1, 2015.

9. To provide to Gosarkhitektstroy of the Republic of Uzbekistan in accordance with the established procedure state examination of the design estimates on the project and to establish the state architectural and construction supervision of quality of accomplishment of construction works.

10. Exempt within project implementation "Production organization of conveyer belts, agricultural and car tires in the territory of SEZ "Angren":

till January 1, 2020 from customs payment (except for customs fees) - the equipment, machines and mechanisms, components and nodes, duplicate parts, raw materials and materials, the industrial equipment which are not made in the republic and also the fuels and lubricants and metal rolling imported by the company "Poly Technologies Inc." and its subcontract organizations, according to the lists approved by the Cabinet of Ministers of the Republic of Uzbekistan;

till January 1, 2018 from periodical customs payments - the equipment, the special equipment, machines and mechanisms which are temporarily imported by directorate, the company "Poly Technologies Inc." and its subcontract organizations through their permanent organizations, according to the lists approved by the Cabinet of Ministers of the Republic of Uzbekistan;

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