Uzbekistan, Tashkent, May 10 /Trend D.Azizov/
Uzkabel, Almalyk MMC and China's Gulf Cable Trading Company have started constructing a plant to produce power cables worth $23.4 million in the Navoi free industrial economic zone (FIEZ Navoi) in 2012, Uzeltehsanoat told Trend on Thursday.
The design capacity for the production of power cables with XLPE 400 kV will amount to six thousand km of cable per year.
MMC and Gulf Cable Trading Company created a joint venture HPC - Systems, in which the Uzbek partners owned 25 percent and Chinese - 50 percent, in order to implement Uzkabel project.
Commissioning is scheduled for the end of the year.
The project is financed through equity of co-sponsors.
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.
It was decided 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. Simultaneously, the capacity of the project increased and FIEZ Navoi was determined as the
construction site.
Uzkabel is one of the largest manufacturers of cables and wires in Central Asia and CIS countries.
At present, production capacity is 50,000 tons of copper rods, 9,800 tons of trolley wires, 15,000 kilometers of conventional telephone cable and 8,300 kilometers of conventional geophysical cable for the oil industry.
The main supplier of copper raw materials for the company is Almalyk Mining and Metallurgical combine.