Tashkent, Uzbekistan, Aug. 3
By Demir Azizov– Trend:
General Motors Powertrain-Uzbekistan (GMPT-Uzbekistan) plant, which is a joint venture of the Uzbek Uzavtosanoat JSC and the US General Motors (GM) corporation, increased its net profit by 2.7 times in 2015 (compared to 2014) - up to 4.058 billion soums, according to the company's report published on a single portal of corporate information.
Net revenues of the plant from product sales decreased by 13.9 percent - to 381.396 billion soums.
The gross profit of the company from product sales amounted to 104.158 billion soums (16.2 percent increase).
GMPT-Uzbekistan was established in 2008 with charter capital of $100 million, with the GM share being 52 percent, and the share of Uzavtosanoat JSC - 48 percent.
Construction of the plant with a project cost of $521.8 million began in 2009. At the end of August 2011, General Motors Powertrain Uzbekistan CJSC issued the first engines in test mode.
The plant is designed to produce 225-270,000 automotive power units annually. The enterprise produces 1.2 liter (82 horsepower) and 1.5 liter (115 horsepower) engines.
The project was financed by own funds of the joint venture in the amount of $298 million, the loans of the Fund for Reconstruction and Development of Uzbekistan - $14.9 million, loans of commercial banks of Uzbekistan totaling $156.9 million, foreign investments and credits worth $52 million.