Currency rates from 04/10/2024
$1 – 12741.02
UZS – -0.13%
€1 – 14062.26
UZS – -0.45%
₽1 – 134.38
UZS – -0.5%
Search
Economy 17/01/2011 GM Uzbekistan to produce Lacetti, working on compressed natural gas
GM Uzbekistan to produce Lacetti, working on compressed natural gas
Tashkent, Uzbekistan (UzDaily.com) -- GM Uzbekistan, an Uzbek-US carmaker, is planning to launch production of Lacetti sedans, consuming compressed natural gas instead of petroleum.

The project will be implemented within the programme on priorities of industry development in Uzbekistan in 2011-2015.

In line with the programme, Uzavtosanoat (Uzbek Car Industry) joint stock company plans to launch production of Lacetti sedans, consuming compressed natural gas.

The production capacity will be 5,000 cars a year. Total cost of the project is US$3.7 million. The project will be implemented by 2012.

GM Uzbekistan started to produce Damas microbuses, which are consuming compressed natural gas, in the first half of 2010. The production of Damas models, consuming compressed natural gas, will be fully completed by the end of 2011. The project cost is estimated at US$5 million. The planned volume of Damas production will be 25,000 cars a year.

According to Uzgosneftegazinspektsiya, total number of cars in Uzbekistan made up 1.634 million, while number of cars, consuming liquefied gas, makes up 7% (114,100 cars) and compressed gas – 8% (129,200 cars).

Uzavtosanoat and South Korea’s Daewoo Motor created a joint venture - UzDaewoo Auto - on parity conditions with the charter capital of US$200 million. In 1996, the venture launched car production plant with the cost of US$650 million in Asaka city of Andijan region. The capacity of the venture is 200,000 cars per year.

In May 2005, Uzavtosanoat purchased 50% shares of Daewoo Motor in UzDaewoo Auto for about US$110 million. General Motors and Uzavtosanoat completed process of creation of GM Uzbekistan on the base of UzDaewooAuto in the end of March 2008. The charter capital of new venture is US$266.7 million.

General Motors owns 25% shares and plus one share in the new venture and it can increase its share up to 40%. Currently, Uzavtosanoat possesses 75% shares in GM Uzbekistan.

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