Baku, Azerbaijan, Dec. 18
By Fikret Dolukhanov – Trend:
The State Investment Committee of Uzbekistan invited Azerbaijani entrepreneurs to invest in a project to expand the production capacity of the Ferganaazot plant, Trend reports on Dec. 18 referring to the sources in the Uzbek market.
The Ferganaazot plant is one of the largest chemical enterprises in Uzbekistan, established in 1962.
The capacity expansion project includes modernization of production of ammonia, urea, ammonium nitrate, nitric acid and acetate yarns, as well as production of synthetic fibers.
The total cost of the project is $173 million, 73 percent of which is foreign investments.
Under the terms of the contract, the investor will receive ownership of the entire business.
The project will be implemented in three stages. At the first stage, which will cover 2018-2019, preparation for the project will be carried out. In the next two years (2020-2021), equipment will be procured and installed.
At the last stage (2022 and further) it is planned to reach the design capacity and establish further production.
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