Uzavtosanoat, Minda Capital create venture to produce automobile components

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Economy 19/08/2010 Uzavtosanoat, Minda Capital create venture to produce automobile components

Uzavtosanoat, Minda Capital create venture to produce automobile components

Tashkent, Uzbekistan (UzDaily.com) -- Uzavtosanoat (Uzbek Car Industry) joint stock company and India’s Minda Capital created an enterprise on production of automobile components, the Uzbek company’s press service said. The sides have equal shares in the enterprise.

UzMinda LLC will be located at Navoi free industrial and economic zone. The enterprise will produce speedometers and security systems for automobiles – set of locks and actuators for central locks.

The expected designed capacity of the Uzbek-Indian enterprise will be 250,000 automobile components a year. The plant will provide jobs for 200 people.

Asaka Bank, one of the largest companies in Uzbekistan, allocated US$6.4 million for technological equipment of the enterprise.

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