Qoqand Mechanic Plant open joint stock company, Harkovmash LLC (Ukraine) and Uzbekneftegaz national holding company will found the venture with charter capital of US$300,000.

The enterprise will specialize in production of rod deep pumps and oil cradle-mounted pumps for oil pumping, as well as spare parts to them.

The venture will produce 2 billion soums in the first year of operation and expand output to 4 billion soums in 2011 and 6 billion soums in 2012.