BAKU, Azerbaijan, Nov. 12
By Klavdiya Romakayeva - Trend:
An Uzbek-Chinese joint venture worth $50 million for the production of metal products is being launched in the Namangan free economic zone in Uzbekistan, Trend reports referring to the press service of the administration of Namangan region.
The project was initiated by Tai Chang Hardware Manufactory.
With the commissioning of the first stage of the enterprise in December of this year, the joint venture will start producing several types of rolled metal, nails, and lattices.
More than 100 people are involved in the construction, including 20 specialists from China.
After full commissioning, 800 new jobs will be created at the enterprise.
It is expected that the joint venture will produce products worth 500 billion soums ($48.2 billion) a year and the volume of annual exports will amount to $18 million.
Earlier it was reported that the construction of a plant for the production of Changan Chinese commercial vehicles began on the territory of the Namangan free economic zone in July 2020.
The plant will be launched in the first quarter of 2021.
Namangan free economic zone was created in 2018 by the decree of the President of the Republic of Uzbekistan on the territory of 681 hectares. Now 18 projects are being implemented there, worth $601 million.
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