Uzbekistan increases sugar production in 2013

Business Materials 23 January 2014 17:55 (UTC +04:00)

Tashkent, Uzbekistan, Jan. 23
By Demir Azizov - Trend:

Xorazm Shakar, the only sugar producer in Uzbekistan, increased its sugar output by 10.3 percent to 356,470 tons in 2013 compared to the same period of 2012, the Uzbek State Statistics Committee said today.

It was earlier reported that the company increased its output by 0.1 percent up to 323,100 tons in 2012 compared to 2011.

The Khorezm sugar factory worth $83.25 million was put into operation in 1998. Initially the plant was designed for processing sugar beet, which was planned to be grown in Uzbekistan. However, the capacity of the Khorezm sugar factory has been suspended due to low crop.

The Uzbek-Austrian-American joint venture 'Shakar Investment' implemented a project worth $2 million for transferring the capacity of the plant for raw cane sugar processing in 2012. At present, the capacity of technological line for processing of raw materials is 1,000 tons of sugar a day.

The shareholders of the company are Singapore's Welton International, which owns 69.43 percent stake, KITO Investments - 20 percent, SEID Handels GmbH - 10 percent, the labor collective - 0.57 percent.

The annual demand for sugar in Uzbekistan is currently around 700,000 tons with about 350,000 tons being imported.

Translated by NH
Edited by CN