Korean holding to construct cement plant in Uzbekistan
Baku, Azerbaijan, Nov. 23
By Nigar Guliyeva – Trend:
South Korean company Evergreen Holdings plans to build a cement plant in Karakalpakstan, Uzbekistan.
A relevant agreement was signed in Seoul between the representatives of "Uzkurilishmaterialary" and the Korean company Nov.22.
The total cost of the project exceeds $ 300 million. Evergreen Holdings intends to implement it in several stages based on the demand in Uzbekistan and neighboring countries. At the first stage, investors are ready to invest in the construction of the plant at least $ 60 million.
Currently, five large cement plants oiperate in the country, inclduing "Kyzylkumcement", "Akhangarancement", "Kuvasaycement", "Bekabadcement", Djizzakh cement plant, as well as a number of small enterprises. Their total capacity exceeds 8.5 million tons per year.
In total, in the next five years, Uzbekistan plans to increase cement output two-fold - to 17 million tons per year.