BAKU, Azerbaijan, Feb. 23
By Klavdiya Romakayeva - Trend:
Foreign investments worth $99.5 million will be invested in three projects in the automotive industry in the Jizzakh free economic zone (FEZ) of Uzbekistan, Trend reports referring to Uzbek media.
President of Uzbekistan Shavkat Mirziyoyev got acquainted with the presentation of investment projects proposed for implementation in the Jizzakh region.
It is reported that information was provided on 515 projects planned for 2021, the total cost of which amounts to 35.5 trillion soums ($3.4 billion). The list of projects includes three projects in the automotive industry in Jizzakh free economic zone for 2.4 trillion soums ($277.7 million).
According to the presentation, in 2021 it is planned to implement the second stage of the project for the production of passenger cars at the ADM Jizzakh plant of Roodell. In September, the production of Kia cars was announced at this site, and then Lada and Renault.
It is noted that the project cost is estimated at 770 billion soums ($73 million), while the production capacity accounts for 100,000 cars. The Export-Import Bank of Korea will be the creditor.
Roodell General Director Daniyar Davletiyarov said that at the first stage, the plant will assemble cars using the SKD (Semi Knocked-Down) method, performing 195 operations. At the second stage, by the end of 2022, it is planned to launch lines with workshops for welding, body painting, and the start of CKD assembly (completely knocked down).
In addition, Auto Motors Asia is preparing to master the production of minibusses, commercial vehicles, and trucks in Jizzakh in 2021. The design capacity amount to 27,000 cars per year and the volume of investments accounts for 174.7 billion soums ($16 million).
Earlier it was reported that China's China Dong Feng Motor Industry and Hebei Changan Automile could become foreign partners of the company.
Furthermore, the Jizzakh Automobile Plant plans to implement the second project for the production of Volkswagen commercial vehicles in 2021.
It was noted that the design capacity of the plant amounts to 20,000 cars per year, while the volume of investments accounts for 1.44 trillion soums ($137 million).
According to the presentation, $99.5 million will be invested in three projects. The volume of car production can reach 22.2 trillion soums ($2.1 billion), exports - $237 million, budgetary receipts - 2.5 trillion soums ($237) million.
It was also noted that 80 billion soums ($7.6 million) are planned to be allocated for the construction of the necessary infrastructure in the Jizzakh FEZ.
---
Follow the author on Twitter: @romakayeva
