Uzbekistan, Tashkent, Apr. 8 / corr Trend D.Azizov /
The Tashkent Tractor Plant (TTP) of Uzbekistan and CLAAS Central Asia Investment GmbH of Germany established a joint venture on assembly of agriculture technique, the plant's management said.
CLAAS and TTP signed an agreement to establish a JV with the statutory capital of 1 million euro in February 2010. The agreement was approved by Uzbek President Islam Kerimov in March.
JV enjoys definite customs and tax privileges under the presidential decree. The president instructed the enterprise to develop jointly with interested ministries and administrations a program on localization of production of agriculture technique CLAAS in Uzbekistan in the nearest six months with further bringing the localization parameters to no less than 50 percent by 2013.
In accordance with the constituent agreement, TTP's share in Uz CLAAS Agro Lts is 51 percent, share of CLAAS Central Asia Investment GmbH is 49 percent.
Within two years founders of Uz CLAAS Agro plan to incase the statutory capital to 3 million euro, by maintaining correlation of stares in the statutory capital.
In 2010 the JV plans to assemble 520 units of agriculture technique a year, including 200 universal cultivation tractors, 170 grain harvesting combines and 150 press pick-ups.
In the first stage the technique will be assembled based on SKD set supplies.
With regard to promote products at Uzbekistan's market Uz CLAAS Agro plans to create a subsidiary service company Uz CLAAS Service in the second half of 2010 to provide for post-sale service to its agriculture technique at service centers in all regions of the country.
TTP specializes in outputting cotton-growing and universal cultivation tractors. Presently, the plant produces three models of tractors of ten modifications with the capacity of from 30 to 60 horse power, as well as four types of trailers with the carrying capacity from 0.5 to five tons. The enterprise also plans to produce tractors of new generation with the capacity of 120 horse-power.
The project capacity of the enterprise is 12,000 tractors and over 13,000 trailers a year. Products are solved at the domestic market and exported to CIS countries, Afghanistan, Turkey. In 2009 the plant increase its output by 12.3 percent compared to 2,737 in 2008.
Some 82.75 percent in the statutory capital of the company belongs to state, 6.07 percent to AUS-Trade GmbH, 3.51 percent to staff, and 7.68 percent to minority shareholders.
Uzselkhozmash-holding, TTP and CaseNewHolland established UzKeysTraktor JV in 1998. By 2008 the JV acted as a large nodal assembly of wheeled tractors MXM-140 with the capacity of 144 horse power. In this period around 500 models of this type has been assembled.