Baku, Azerbaijan, Jan.25
By Nigar Guliyeva - Trend:
The Uzbek-French automobile plant Uzbekistan Peugeot Citroen Automotive will produce Peugeot Expert and Peugeot Boxer, Uzbek media outlets reported on Jan.25.
JSC "Uzavtosanoat" and the company Peugeot Citroen Automobiles S.A. (France) signed an agreement on the establishment of a joint venture LLC on May 16, 2017 .
The authorized capital of the joint venture is 29.3 million euros, the estimated total cost of the project for the organization of production of light commercial vehicles is 133.3 million euros.
The plant with a design capacity of up to 16,000 cars a year will be built in the Djizak free economic zone. The design of the facility is carried out jointly with the experienced engineers of the French company in accordance with the standards and requirements of the Peugeot Citroen.
The plant will start producing cars in 2019. New cars are planned to be sold both in Uzbekistan and abroad. The level of localization will be at least 50 percent from the first year of production. Uzbek companies will be attracted to localize the production.
Presently, more than 200 enterprises and organizations that are part of the Uzavtoprom JSC work in the automotive industry of Uzbekistan.