Uzbekistan will receive a $143 million loan to modernize its railway rolling stock. Under a presidential decree, the funds will be provided by the Reconstruction and Development Fund to Uzbekistan Railways. This was reported by kursiv.uz. reports .
The allocated resources will be used over the next four years to refurbish 200 wagons. The loan is issued for 10 years with a 3-year grace period.
As part of the program to purchase new locomotives, 2 diesel locomotives and 10 electric locomotives will be exempt from import duties. In addition, a 120-day VAT deferral is предусмотрен for subsidiaries of Uzbekistan Railways.
The decree also sets an initiative to increase the average speed of freight trains from 30 km/h to 50 km/h. This is expected to shorten delivery times and save time in logistics processes.
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