US, Austrian companies to invest in plant construction in Uzbekistan
Baku, Azerbaijan, March 24
The US company Epsilon Development in partnership with the Austrian company Oberhofer Projektmanagement GmbH will invest 100 million euros in the construction of a new plant in the Angren free economic zone in Uzbekistan, Trend reports referring to Uzbek media.
The companies have already created a foreign enterprise "Steel Innovation Systems" to implement this project.
"The new plant will be engaged in metal galvanizing and the production of various metal structures. At the moment, the collection of baseline data and the harmonization of technical conditions. The design capacity of the plant is 50,000 tons of steel per year, and the company will create 200-250 permanent jobs," a source at Epsilon Development said, Uzbek media reported.
The plans include manufacturing products for the automotive industry, including the production of engines, construction of bridges and power transmission pylons, various fences, production workshops and high-rise buildings, as well as for the oil and gas sector.
"Modern, high-performance and world-class production facilities for processing metal structures and their protection against corrosion can meet the demand of a large number of national and foreign customers. Construction of the plant will increase the export potential, expand import substitution, create new jobs, and attract advanced European technologies to Uzbekistan," the source at the company said.