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Economy
05/07/2010
Sino starts second phase of project on LG refrigerators production
Sino starts second phase of project on LG refrigerators production
Tashkent, Uzbekistan (UzDaily.com) --
Sino open joint stock company and South Korea’s LG Electronics are planning to start the second phase of project on production of LG refrigerators in Samarkand.
Within the second phase, it is planned to invest US$8.86 million for development of production, including US$6 million for equipment purchase. The second phase will be implemented till the end of 2011.
The modernization of Sino capacities within the second phase will allow to launch production of new refrigerators and deep-freezers, as well as increase production volume to 100,000 units a year.
As earlier reported, Sino and LG Electronics started production of refrigerators in Samarkand in December 2009. The project cost was US$9.8 million.
The Korean side supply assembly equipment for refrigerators production, which was installed at the Samarkand-based enterprise. In the first stage (till the end of 2010), Sino will produce 50,000 LG refrigerators.
Sino plant was commissioned in 1973. The capacity of the plant is 250,000 refrigerators a year.
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