Uzbekistan establishes joint Uzbek-German asphalt production enterprise
BAKU, Azerbaijan, Aug. 11
By Ilkin Seyfaddini – Trend:
The Cabinet of Ministers of Uzbekistan adopted a resolution on establishment of joint Uzbek-German enterprise named Papenburg Uzbekistan LLC, Trend reports with reference to Norma.uz.
The resolution notes that the Committee on Roads of Uzbekistan and GP Gunter Papenburg AG (Germany) signed an agreement on organization of production of asphalt concrete mixtures and products for road construction.
The agreement also provides for the establishment of an enterprise for construction and assembly work with the use of technologies and equipment produced in Germany.
The charter fund of Papenburg Uzbekistan LLC is formed from the funds of Uzbek Transyolqurilish company in the amount of 1.7 million euros (30 percent) and the funds of Papenburg International GmbH in the amount of four million euros of direct investment (70 percent).
The Committee on Roads of Uzbekistan is granted the right to make proposals on changing the participant of Papenburg Uzbekistan LLC from the Uzbek side with the approval of the Cabinet of Ministers of Uzbekistan.
Follow author on Twitter:@seyfaddini