The charter capital of the joint venture is US$5.95 million, where South Korean venture holds 30% and Uzavtoprom possesses 70% in the venture.

The project capacity of the venture is 250,000 headlights and lights a year. South Korean AMS Co Ltd, subsidiary of Chasys Co. Ltd, will supply equipment to the venture.

It is planned to commission the venture in the forth quarter of 2009. Main part of products will be supplied to GM Uzbekistan, an Uzbek carmaker.

The project will be financed due to charter capital of the venture and the loan of Asaka Bank for US$15.2 million.

The volume of investments to automobile industry of Uzbekistan exceeded US$1.5 billion. Currently, the enterprises of industry produce glassware, batteries, fuel tanks, mufflers, seats, bumpers, wisp and electricity cable for engines, etc. Average localization of automobile industry makes up 40%.

General Motors (US) and Uzavtoprom completed process of creation of GM Uzbekistan on the base of UzDaewooAuto in March 2008. The capacity of the venture is 250,000 a year. General Motors holds 25% plus one share and possesses option to increase its share to 40%. Uzavtoprom possesses currently other 75% shares in the enterprise. GM Uzbekistan produces six models of vehicles.