Tashkent, Uzbekistan, May 18
By Demir Azizov – Trend:
Uzbekistan’s Uzavtoprom and the French car manufacturer PSA Group signed an agreement to establish a joint venture for manufacturing light commercial vehicles (LCV), according to the data from Uzavtoprom.
The joint venture will be created with authorized capital of 30 million euros. Total investments in the project are estimated at 130 million euros.
The plant with a capacity of up to 16,000 cars per year will be built in the Jizzakh free economic zone in central Uzbekistan.
Cars, to be produced under the Peugeot and Citroen brands, are planned to be sold in Uzbekistan as well as abroad.
The new plant is expected to be commissioned in 2019.