General Motors to create third joint venture in Uzbekistan
19/08/2011 16:06
General Motors to create third joint venture in Uzbekistan
19/08/2011 16:06
Tashkent, Uzbekistan (UzDaily.com) -- General Motors and Uzavtosanoat joint stock company are planning to create joint venture on production of transmissions for automobiles in Uzbekistan, RIA Novosti reported quoting Prime news agency.
The agency reported that the sides achieved preliminary agreement on implementation of the project and currently, the sides are discussing technical and financial issues.
The project cost is estimated at US$310 million. It is planned that the enterprise’s capacity will make 250,000 units of transmissions and other spare parts of engines a year.
The project will be implemented within four years. If the sides can sign constituent documents, new enterprise will become third venture of GM in Uzbekistan.
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