TMP on the brink of bankruptcy; offshore companies left the project

The Tashkent metallurgical plant (TMP) suffered a loss of approximately $79.5 million in 2017-2022. The total cost of this project was €334.5 million, of which €179.6 million were foreign loans. The founding offshore companies registered in Cyprus withdrew from the project, and the factory, which was in danger of bankruptcy, and its debts were left in the hands of the state fund.