The European Bank for Reconstruction and Development (EBRD) is contributing to the development of green energy infrastructure and Uzbekistan’s long-term decarbonisation goals by supporting the operations of Techno Cable Group (TCG), which specialises in the manufacturing of copper and aluminium electrical cables used in the electricity infrastructure and renewable energy projects.
TCG, which currently produces over 3,000 types of electrical cable products including various types of polyvinyl chloride insulated ones, will receive the EBRD’s senior loan of up to $17.5 million for its capacity expansion and working capital needs.
The funds will allow TCG to purchase specialised cable- and wire-manufacturing equipment and raw materials for cable production. The planned modernisation is expected to help TCG increase its copper-wire manufacturing capacity by 160 per cent and its aluminium-wire production capacity by 230 per cent. The firm will also be able to expand its product range and start exporting to external markets, including the European Union.
This project will contribute to the country’s “Uzbekistan 2030” strategy, which aims to triple domestic production of copper. Greater availability of electrical cables manufactured by TCG will help to drive Uzbekistan’s industrialisation, expansion of the national grid and electrification.
As part of the project, TCG will embark on digital transformation supported by the EBRD. Among other objectives, the work will improve TCG’s accounting practices and streamline business functions such as finance, HR, supply chains and production.
The project will also help to develop human capital in TCG through the introduction of internship programmes for students from two local universities. This will strengthen the local talent pool, enhance the employability of young professionals and support the long-term development of technical skills in the cable manufacturing industry.
The Bank has invested almost €5.33 billion in Uzbekistan to date across 186 projects, with most of the funds supporting private entrepreneurship. The country has been the leading recipient of EBRD funding in Central Asia for each of the past five years.
