Baku, Azerbaijan, Oct. 14
By Ali Mustafayev – Trend:
The biggest Uzbek manufacturer of specialized glass containers “Asl Oyna” will invest $178 million to expand its capacity.
The company intends to expand the current level of production from 200 to 600 million conventional units per year due to the construction of the 3rd, the 4th and the 5th glass melting furnaces and a plant for the enrichment of raw materials for the glass production, Sputnik Uzbekistan reported.
Technological equipment worth about $130 million will be purchased by the company to realize the mentioned projects.
The launch of the facilities is expected to involve the creation of at least 1,000 new work places.
The company will also change the form of its ownership from joint stock company (JSC) to a limited liability company (LLC) before the implementation of the investment projects.
The projects will be mainly financed by a soft loan amounting to $100 million allocated by the Fund for Reconstruction and Development of Uzbekistan and investments of the National Bank of Uzbekistan amounting to $30 million dollars.
“Asl Oyna” is the leading glass producer in Central Asia, situated in Tashkent. The equipment of the company, supplied by the German Heye International, corresponds to international standards.
