PRESS OF UZBEKISTAN
September 29, 2016
A JOINT UZBEK-CHINESE ENTERPRISE HAYAT POWER CABLE SYSTEMS IS MAPPING OUT AN INVESTMENT PROJECT
In the coming years, the capacity of enhanced processing of copper will grow from 3 to 10,000 tons per year. It is also planned to establish the production of 35 new types and sizes of modern cables and wires of up to 400 kW. It is expected that the expansion will create more than 200 new jobs. The JV also intends to increase the annual production volume to $65 million and export at least 65% of it.
The founders of the company - Almalyk MSP (25%), Uzkabel (25%) and China\'s Gulf Cable Trading Company (50%) have also agreed to change the project stake. Now, the plant will increase its stake to 50% with a corresponding decrease in the share of the Chinese side.
Established in 2013 in the Navoi Free Industrial Economic Zone, the company annually produces products for $25-30 million. The total amount of funds invested in its development has exceeded $20.4 million.
The Almalyk Mining and Smelting Plant is the major supplier of raw materials for the producer of copper and aluminum cables of different sizes that meet all international standards. Advanced devices are operated mainly by young professionals.
(Source: «Uzbekistan Today» newspaper)