Tashkent, Uzbekistan, May 14
By Demir Azizov- Trend:
Uzbek-Chinese joint venture UzXCMG launched the production of excavators in the Khorezm region (north-western of Uzbekistan), the representative of the Uzbek partner of the project - the "Uzbekistan Railways" State Joint Stock Company told Trend.
"Uzbekistan Railways" SJSC and Chinese Xuzhou Construction Machinery Group (XCMG) signed an agreement on the establishment of the UzXCMG joint venture on the assembly of excavators and road-construction equipment on parity basis in October of 2013.
The production capacity of the joint venture will be placed on the basis of excavator plant in Urgench (Urgench Excavator JSC).
The volume of investment of the Chinese company in the project is $10 million.
By 2015, the company plans to reach its project capacity of 200 excavators per year. Till then, it is planned to issue 50 excavators before the end of 2014.
Urgench Excavator Plant was established in 1974. The enterprise specializes in the production of rope cranes that are used for the reclamation works and produces dredgers, cultivators and different metal constructions.
The design capacity of the plant was about 100 excavators per year.
Edited by S.I.
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