RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of January 3, 2007 No. PP-553

About measures for implementation of the investment project "Equipment of Housing Stock of the Republic of Uzbekistan Metering Devices of Cold and Hot Water"

For the purpose of implementation of the investment project "Equipment of Housing Stock of the Republic of Uzbekistan Metering Devices of Cold and Hot Water" with use of soft credit of the Government of the People's Republic of China (PRC) provided for SCO countries:

1. Take into consideration that:

The government of People's Republic of China allocated to the Republic of Uzbekistan the preferential credit line provided for SCO countries for the amount 17 293 502, 35 US dollars for a period of 20 years, including five-year grace period, for project implementation "Equipment of housing stock of the Republic of Uzbekistan metering devices of cold and hot water" on a turnkey basis (the first stage);

The Uzbek agency "Uzkommunkhizmat" on the basis of the competitive selection made in accordance with the established procedure signed the contract with the Chinese corporation "China National Machinery Import & Export Corporation (CMC)" (People's Republic of China) in consortium with overseas enterprise II YAN LLC on execution of works on equipment of housing stock of the Republic of Uzbekistan as metering devices of cold and hot water on a turnkey basis on the amount 17 293 502, of 35 US dollars;

The Chinese corporation "China National Machinery Import & Export Corporation" in consortium with overseas enterprise II YAN LLC provides guarantee and field service established under the specified contract of metering devices of cold and hot water.

2. Determine that financing of the contract will be performed for the credit account of joint commercial mortgage bank "Ipoteka-bank" by refinancing of borrowed funds of Eximbank of the People's Republic of China in the amount 17 293 502, of 35 US dollars.

3. Approve:

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