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Uzbekistan to allocate funds for increasing household appliances production

Business Materials 8 April 2014 15:37 (UTC +04:00)
Enterprises of Uzbekistan’s electrical industry will allocate some $153.4 million within five years for creating new facilities for production of household appliances.

Tashkent, Uzbekistan, April 8

By Demir Azizov- Trend:

Enterprises of Uzbekistan's electrical industry will allocate some $153.4 million within five years for creating new facilities for production of household appliances.

Uzbek President Islam Karimov has approved the program of measures for the further development of electrical industry for 2014-2018 by signing a relevant decree.

The program envisages implementation of around 24 projects for development of new and modernization of operating facilities for production of household appliances.

Under the program, Uzbekistan plans to increase the production of TVs by 4.6 times (to 635,000), mobile phones - 3.9 times (to 1,000,000), refrigerators and freezers - 2.5 times (to 600,000) annually within five years.

Plans are to master the production of household appliances using the facilities of Tashkent enterprises such as Algorithm, Foton and engine plant, Samarkand plant for production of Sino refrigerators and new facilities created in the three economic zones - in Navoi, Dzhizzakh and Angren.

The program will be financed with the enterprises' equities totaling $77.8 million, loans from Uzbek banks in the amount of $26.2 million and foreign investments totaling $39.4 million.

Translated by L.Z.

Edited by C.N.

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