On 16 May 2017, Uzavtosanoat and Peugeot Citroen Automobiles S.A. (France) signed an agreement on establishment of a joint venture in the form of a limited liability company Uzbekistan Peugeot Citroen Automotive (UzPCA).

According to the presidential resolution, the authorized capital of the joint venture is 29.3 million euros. The parties also determined the conditions for implementation of the investment project “Organization of production of light commercial vehicles in Uzbekistan” with a total cost of 133.3 million euros.

The project will be implemented on the territory of the free economic zone Jizzakh in Jizzakh region. About 45 hectares of land will be allocated to construction of the plant in the territory of the FEZ Jizzakh.

Uzbek President approved an investment agreement, signed between the Government of Uzbekistan represented by the State Committee of Uzbekistan for Investments, Peugeot Citroen Automobiles S.A. and Uzavtosanoat, which outlines the specific obligations of the foreign investor and measures for state support, provided by UzPCA LLC, by the Government of Uzbekistan.

President Shavkat Mirziyoyev provided a number of tax and customs privileges and preferences for the project participants.

The services of official dealers of UzPCA LLC for repairing and servicing of the produced cars, including the cost of spare parts, units, aggregates and materials and their sale through the trading network are carried out without VAT, the document said.