Hungyuan Cement Uzbekistan – China joint venture will employ 1500 young people

18.02.2019, 22:35

Hungyuan Cement Uzbekistan – China joint venture will employ 1500 young people

This was discussed at the meeting of UzLiDeP deputy group in Kattakurgan district Kengash of people’s deputies.


At the meeting, a report of the Deputy khokim of Kattakurgan district on the issues of investment, innovation, assistance to privatized enterprises, development of free economic and small industrial zones and tourism B.Eshmirzayev was heard.

He noted that this year the district khokimiyat together with foreign companies is implementing a number of promising projects. In particular, Stone Holding Group joint venture (Uzbekistan – the United States) was established with a total value of 1040 million USD. The company has allocated 460 thousand USD for the purchase of equipment from leading Chinese manufacturers. Their delivery is expected until the end of this year.

According to the Deputy khokim, foreign partners will form a cash authorized capital of this company in the amount of 100 thousand USD, as well as investments in the amount of 224 thousand USD in the form of intellectual property will be attracted.

– It is also determined that investment in the amount of 420 million USD will be attracted into the created Hungyuan Cement Uzbekistan – China joint venture. Construction of the plant will be carried out in two stages. The first stage is implemented in 2018-2020, and due to direct investments in the amount of 220 million USD, the cement production unit will be launched with a capacity of 1.2 million tons per year. 1500 new jobs will be created, – B.Eshmirzayev informed.

It was also noted that now, together with partners from Turkey, Azerbaijan, Georgia, activities are being implemented on creating a plant for processing dairy products in the form of Egra Company LLC.

Participants of the meeting expressed their opinions and suggestions on the considered issues.

Press Service of

UzLiDeP Samarkand

Regional Kengash

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