Baku, Azerbaijan, Apr. 17
By Fakhri Vakilov – Trend:
German company Falk-Porsche-Technik GmbH will start production of fiberglass and its products in Uzbekistan alongside manufacture of energy-efficient thermal devices and modern energy-saving systems, Trend reports with reference to Uzbekistani media.
According to the decree of the President of Uzbekistan, joint stock company (JSC) Deutsche Kabel AG Tashkent has launched a project for the production of fiberglass, energy-efficient thermal devices and modern energy-saving systems. The document says that the project will absorb 21.4 million euros of foreign direct investment. The estimated production capacity is expected to amount to 13,000 tons of fiberglass and 3,000 tons of fiberglass products.
For effective implementation of the projects of JV JSC Deutsche Kabel AG Tashkent, Falk Porsche Fiberglass LLC was established. For seven years, the enterprise has been exempted from paying income (profit), property and other taxes, as well as from mandatory contributions to the Road Fund of Uzbekistan for its main activity.
In the case of the production need, Falk Porsche Fiberglass is allowed to use, on a give-and-take basis, technological units and equipment containing precious metals, and to export them for further processing outside of Uzbekistan, if necessary for ensuring continuous production.
Three years ago, Falk-Porsche-Technik GmbH became the sole shareholder of two Uzbek enterprises, namely Cable and Wires Factory Deutsche Kabel AG Tashkent and the Deutsche Konstruktion Group.
Deutsche Kabel AG Tashkent JV venture was formed in 1999 on the basis of Electrosignal OJSC. Its main activity involves production of special cable and wire products of wide range, steel medium carbon wire and LAN cables.
Falk-Porsche-Technik GmbH specializes in copper and steel wire products all over Europe. The company produces copper wire with a diameter from 1.8 mm to 8,0 mm and many other products.
Falk-Porsche-Technik GmbH benefits from their own fabrication sites in Tashkent. With more than 650 employees, the company operates it own melting and various modern wire drawing machines, and utilize the highest quality copper in the world directly extracted from Uzbekistani mines.
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