Uzbekistan creates JV for production of aluminum parts for the automotive industry
27/07/2015 15:57
Uzbekistan creates JV for production of aluminum parts for the automotive industry
27/07/2015 15:57
Tashkent, Uzbekistan (UzDaily.com) -- Uzavtosanoat joint stock company and INZI AMT Co., Ltd. (South Korea) created a joint venture for production of aluminum parts for automobile industry – UZAUTO-INZI LLC.
The charter capital of the venture is US$10 million. Uzavtosanoat and INZI AMT Co., Ltd. have equal stake in new venture.
It is expected that new enterprise on production of aluminum parts by high-precision casting under pressure will start production from 1 January 2017.
New enterprise will be located new General Motors Powertrain Uzbekistan. The Government of Uzbekistan allocated 6.9 hectares of land for the plant, of which 5.3 hectares in the territory of General Motors Powertrain Uzbekistan.
The Uzbek government allowed UZAUTO-INZI, on an exceptional basis, to carry out construction and installation work on construction of the plant with the simultaneous development of design documentation till 31 August 2016.
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