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Economy
20/10/2008
Chasys, Uzavtoprom to set up car components production
About US$50m to be invested for vehicle components production
Chasys of South Korea and UzAvtoProm are planning to launch production of car components with total cost of US$50 million in 2009.
The sides signed an agreement on cooperation, which envisages realization of two projects within next two years.
The first project with the cost of US$27.5 million stipulates production of lighting equipment for vehicles. The sides will create the joint venture on production of automotive head lamp and laps on the basis of one of the enterprises in Namangan.
The second project envisages production of back axles and car suspension levers, seat control mechanisms, parking brake and others. The cost of the project is US$22 million and the venture will be located in Andijan.
The capacities of both enterprises are 250,000 components a year. The ventures will be launched at the end of 2009.
The projects are financed due to investments of South Korean firm and credits of the Uzbek commercial banks.
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