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The source said that the sides could not reach agreement on the volume and terms of investments, as well as business environment for investor in Uzbekistan.
The project envisaged construction of road construction, loading equipment and machines for communal services with the capacity of 200 units a year. The sides were holding talks on project implementation for about two years. The investment in the first stage of the project should make up US$6 million.
The report said that the Uzbek agriculture enterprises are holding talks with foreign companies on establishment of capacities on production of special equipment for last five years, but the talks were not fruitful.
Motor Plant produced 5,000 diesel engines a year till the mid-1990s based on spare parts imported from Russia and Belarus. In May 2008, it was announced as bankrupt. In 2010, it was purchased by National Bank of Uzbekistan for Foreign Economic Activity, but the agreement was abolished in 2012 and the assets were returned to liquidation commission.