Uzbekistan, Tashkent, June 18 /Trend D.Azizov/
The Uzbek Cabinet of Ministers has approved the proposal of Uzeltehsanoat and Hayat Power Cable Systems to accelerate launching construction of a power cable production factory worth $20.5 million over four months, a source in the association told Trend on Monday.
It was previously reported that Uzkabel, Almalyk MMC and China's Gulf Cable Trading Company started constructing a XLPE power cable production plant with a voltage of 400 kV.
The plant with a design capacity of 10,000 km of cable and the planned exports at least 60 percent of products is being built on the Navoi free industrial economic zone.
Hayat Power Cable Systems has placed the orders of the leading foreign companies to produce modern technological equipment for the cable production worth $ 14.6 million.
The project is financed by the co-founders.
Previously, the plant was planned to be commissioned in late 2012 - the first quarter of 2013.
Uzkabel previously planned to implement the project worth $12.5 million for the production of high-voltage power cables with XLPE insulation capacity of 200 km per year alone. The project is planned to implement due to the credit of the Fund for Reconstruction and
Development of Uzbekistan and own funds of Uzkabel.
A decision was made to connect Almalyk Mining to the project as a major producer of copper raw materials and to attract foreign investors in the face of a Chinese company in 2011. At the same time, the capacity of the project increased and FIEZ Navoi was determined as the construction site.
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