Uzbekistan, Tashkent, May 24 / Trend D. Azizov /
Uzbek-Korean joint venture UzSangvu will commission a stamped goods manufacturing plant for GM Uzbekistan cars worth $47.77 million in October 2012, a government source told Trend on Thursday.
According to the interlocutor of the agency, the plant with a design capacity of 120,000 units of stamped goods is being built in Fergana city (south-east of Uzbekistan) on the basis of production areas of the Ferghana Mechanical Plant.
According to the Uzbek government's decision, part of the production area of "Ferghana Mechanical Plant" has been allotted for the construction of a new enterprise.
The project is financed by Uzavtosanoat and the Korean Sungwoo Hitech Ltd. Uzavtosanoat was founded in 2004.
Uzavtosanoat was founded in 2004. The company consists of more than 20 enterprises, including 16 joint ventures.
The co-founders in GM Uzbekistan are "Uzavtosanoat" and General Motors. It manufactures eight models of cars.