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Construction of Sergeli metro line to cost $170.1m.

The President of Uzbekistan Shavkat Mirziyoev adopted a resolution “On measures on implementation of the “Construction of Sergeli metro” project.”

The document was adopted in order to improve the transport infrastructure of the Tashkent city, develop and extend metro lines, increase passenger traffic in the metro and reduce the workload of the ground public transports in Sergeli area, as well as improve and protect the environment.

The document approved the proposal of the Tashkent city administration, the State Committee of the Republic of Uzbekistan for Architecture and Construction and JSC "Uzbekistan Temir Yollari" on extension and development of Tashkent metro lines by construction Sergeli Tashkent metro line in the period from 2017 till 2020.

The financing sources of the project are:

centralized investments from the State budget of the Republic of Uzbekistan in the equivalent of $70.1m., to be channeled annually within the parameters of the Investment program of the Republic of Uzbekistan for the period from 2017 till 2020;

loan funds of the Fund for Reconstruction and Development worth $35.1m., refinanced by the National Bank for Foreign Economic Activity of the Republic of Uzbekistan for a period of 15 years, including a grace period of 4 years, with an interest rate of 2.25 percent per annual rate, including the refinancing of the bank margin at 0.25 percent;

loans and other funds in the amount of $64.9m.

Up to 1 January 2020, in the framework of the project, all participants are exempt from:

customs payments (except customs duties) for special vehicles, road construction machinery, machines, mechanisms, equipment, raw materials, spare parts, components, assemblies, including special construction and road machinery and equipment not produced in the Republic, imported on the lists approved by the Cabinet of Ministers of the Republic of Uzbekistan;

value added tax for goods, works (services), including works (services) rendered to non-residents of the Republic of Uzbekistan;

obligatory contributions and charges to the Republican road fund and Off-budget fund for reconstruction, refurbishment and equipping of general schools, professional colleges, academic lyceums and medical institutions under the Ministry of Finance of the Republic of Uzbekistan;

property tax, purchased for the project implementation;

in case of providing free meals to employees appropriate costs are excluded from the taxable base when calculating the tax on profit of legal entities, value added tax, single social payment of the tax to incomes of physical persons and the insurance contributions of citizens to Non-budgetary pension fund under the Ministry of Finance of the Republic of Uzbekistan.

Elevated metro line will be built from the station "Olmazor" stretching to Sputnik district. Its length will be more than 8 km, 6 meters height from the ground level and will include six stations. Elevated metro line will have a modern look and significantly transform the appearance of the area and the capital, as well as will give additional comfort for citizens.

Uzreport.uz
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