Uzavtosanoat to implement projects for US$834.9 million by 2022

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Uzavtosanoat to implement projects for US$834.9 million by 2022

Tashkent, Uzbekistan (UzDaily.com) — Uzavtosanoat (Uzbek Automobile Industry) will implement 51 projects for total sum of US$834.9 million in 2017-2021.

On 1 June 2017, President of Uzbekistan Shavkat Mirziyoyev signed a resolution “On measures on further improving management and accelerated development of the automotive industry for 2017-2021”.

With his resolution, the Uzbek President approve the programme on development of automobile industry in Uzbekistan for 2017-2021. The programme includes a list of investment projects, which will be implemented in the industry.

In particular, in the reporting period, seven projects will be implemented to develop production of new models of vehicles and equipment. The total cost of these projects will be US$433.7 million.

Nine projects worth US$ 157.1 million are aimed at modernizing and re-equipping the enterprises of Uzavtosanoat.

It is also planned to realize 35 projects on localization of auto components and base materials. The cost of these projects is US$244.1 million.

The projects will be financed at the expense of the enterprises own funds for US$172.1 million, commercial banks’ loans – US$138.9 million, resources of targeted sources – US$381.8 million and foreign investments and credits – US$142.1 million.

 

Source :  UzDaily

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