Russia to build distillery in Uzbekistan
Baku, Azerbaijan, Sept. 25
Ali Mustafayev - Trend:
A new distillery, specializing in the manufacture of premium quality products from luxury alcohol, will be built in Uzbekistan’s Tashkent city in the coming years, Podrobno.uz news agency reported.
The new distillery’s construction will be carried out by a joint venture “Premium Uzbekistan”, where 51 percent is owned by Russia’s Selena company, and 49 percent by the Uzbekistan Railways JSC. The initial statutory fund of the company will be $150,000.
The new facilities will be located at the base of the Tashkent Mechanical Plant. It is planned to use advanced technologies at the plant.
The construction of the new distillery will be carried out at the expense of direct investments of the Russian company with their subsequent transfer to the authorized capital of the joint venture, which is being established.
Russia will also allocate loans for the modernization of another distillery, Kukon spirt JSC, the shares of which were transferred to the Uzbekistan Railways JSC. It is planned that both projects will be completed in 2020.
Uzbek President Shavkat Mirziyoyev exempted all the executors of the project from the value-added tax, mandatory deductions and fees to specialized state funds, corporate tax on income received by non-residents, fees for the usage of public roads by heavy cars, as well as state fees, premiums and payments for licensing and certification before January 1, 2021.