Baku, Azerbaijan, Nov. 26
By Fikret Dolukhanov – Trend:
Korea's Chung Woon Brake is planning to start production of brake pads in Uzbekistan, Uzbek media reported.
Jung Gu, President of Chung Woon Brake, noted that the plant could be opened in 2019 in the Jizzakh or Angren Free Economic Zone. The initial investment will amount to $1.5 million.
At the first stage, the plant is expected to produce 600,000 sets of brake pads per year. In 2020, the company plans to produce up to 1.2 million sets of products per year.
The enterprise will supply up to 30 percent of its products to the domestic market, and the remaining 70 percent to the countries of the CIS, Middle East and other regions.
In January-October 2018, Uzbekistan produced 148,300 passenger cars, which is 31.7 percent more compared to the same period in 2017.
In the first ten months of 2018, Uzbekistan produced 115,340 automobile engines, which is 49.2 percent more compared to January-October 2017.
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