Currency rates from 26/11/2024
$1 – 12814.78
UZS – -0.11%
€1 – 13442.70
UZS – 0.73%
₽1 – 123.50
UZS – -1.13%
Search
Economy 12/07/2024 Competition Committee initiates anti-dumping case against Shangfeng Cement Plant — Bridge of Friendship
Competition Committee initiates anti-dumping case against Shangfeng Cement Plant — Bridge of Friendship

Tashkent, Uzbekistan (UzDaily.com) – The Committee for Competition Development and Consumer Rights Protection of Uzbekistan has initiated an anti-dumping case against the Shangfeng Cement Plant — Bridge of Friendship from Andijan region.

Several cement plants in the Ferghana Valley filed a complaint with the committee, alleging that Shangfeng is selling its products on the domestic market below cost, which has led to financial difficulties for other manufacturers.

The head of the committee, Khalilulla Turakhodjaev, personally studied the situation and met with representatives of 13 cement plants from various regions of Uzbekistan.

To investigate possible dumping practices, the committee sent a request to Shangfeng — Bridge of Friendship. However, the company did not provide the required information within the specified deadlines, leading to the opening of the case.

Shangfeng — Bridge of Friendship, launched at the end of April, has an annual production capacity of 2.5 million tons of cement. The company's founders include Chinese companies Zhejiang Shangfeng Building Materials (29%) and Conch International Holdings Hong Kong Limited (51%), along with local Jo’ydam Ta`mir Qurilish (20%).

Additionally, plans were announced in October 2023 to build two new cement plants in Bulakbashi district of Andijan region, totaling US$500 million. These facilities are expected to export US$20 million worth of products annually and replace US$15 million of imports.

A second plant, West China Cement, with similar capacity, opened in May.

Stay up to date with the latest news
Subscribe to our telegram channel