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Uzbekistan establishes Uzbek-Austrian joint venture

Business Materials 18 March 2010 17:12 (UTC +04:00)

Uzbekistan, Tashkent, March 18 / Trend D.Azizov /

The Uzbek Navoiazot Ltd. (former Navoi chemical plant) and the Austrian BEFA Handelsgesellschaft GmbH have created a joint venture "NAVOI-BEFA" for the production of household chemical goods worth $7.8 million, the Uzbek enterprise reported

Joint venture established on an equal footing in the city of Navoi, plans up to manufacture 120 names of liquid detergent and cosmetic products in the amount of 15,000 tons per year by 2012. Project will be financed by own funds of the Austrian company and Navoiazot Ltd.

The Austrian company is the licensor of German Henkel. Delivery of equipment will begin in September 2010.

Navoiazot Ltd is the largest chemical enterprise in Uzbekistan, entered into operation in 1964, and specializes in the production of nitrogen fertilizers and nitronic fiber, as well as integrated production of organic synthesis. The company is completely owned by the state.

In 1999, Russia's Concern Kalina JSC bought Almalyk plant household chemicals and has set up LLC "Pallas East" on its base. In 2004, Russia sold 95 percent of investor shares in"Pallas" to local partners, considering this non-core asset.

In 2006, the Iranian Condor Co, announced plans to create detergent production plant with capacity of 120,000 tons per year in Uzbekistan. The project worth $ 25 million expected to be implemented on the basis of the acquired company OAO Samarkand Elevator Plant. However, the deal to buy 75 percent shares of the plant was canceled by Iran's State Property Committee.

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