Shareholders of the plant adopted decision to develop a project on organization of production of calcium storage batteries. The project cost is valued at US$10 million, Gazeta.uz reported.

The production line with preliminary capacity of 50,000 units can be launched in the first half of 2011, the report said.

In future, all capacities of the plant – 1 million units – will be transferred to production of calcium storage batteries. The project will be financed due to resources of the shareholders.

Jizzakh Battery Plant with charter capital of 74.2 million soums was founded in March 2010 on the base of UzExcide, an Uzbek-US venture. The venture was announced bankrupt in 2009 by Jizzakh regional economic court.

The shares of newly created enterprise were placed among creditors of the enterprise in accordance with the volume of the credit volume.

UzAvtoSanoat holds 79.69% in Jizzakh Battery Plant, Asaka Bank – 12.19%, Markaziy Kombinat – 5.75% and GM Uzbekistan – 1.9%.