Chinese Companies To Establish Special Industrial Zone In Uzbekistan

10/27/2024 12:10:31 AM

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, October 27. China Construction Fifth Engineering Division Corp and BSM Group Limited will establish "Two regions - One Park" special industrial zone in Uzbekistan's Chirchik, the administration of the Tashkent region told Trend .

Construction work on this project is set to begin in the first quarter of 2025. Around 20 new enterprises are expected to be built, producing electrical engineering products, textiles, construction materials, specialized machinery, and pharmaceuticals.

The first phases of the project will begin production in 2026. Over $200 million in foreign direct investment is expected to be attracted during the first and second phases. As a result, more than 1,000 new jobs will be created.

Currently, work is underway to develop the design and estimate documentation for the technopark's organization.

Meanwhile, China Triumph International Engineering and China Xiaou Group are planning to create a technopark in Uzbekistan's Fergana region.

The companies intend to produce cars under a new brand from localized components in the region.

At the first stage, the sides plan to set up assembly, painting, and adjustment using parts imported from China. After the launch, the plant will be able to produce up to 60,000 cars and special vehicles with gas, electric, and hybrid engines annually.

MENAFN27102024000187011040ID1108821357

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.