Uzbek-Korean JV to start supplying parts to Russian car factory
Baku, Azerbaijan, August 8
By Fakhri Vakilov -Trend:
Uzbek-South Korean joint venture UzSungwoo will begin to supply in October more than 50 types of stamped parts for the automobile plant of PSMA Rus LLC in the Kaluga region of Russia, Trend reports citing RIA Novosti.
"We, together with Peugeot-Citroen, started a project for the production of 52 stamped parts for the PSMA Rus plant," Director General of the joint venture Bobur Mukhiddinov said at the International Investment Forum in Fergana (Uzbekistan).
He stated that deliveries will begin in October. The French automaker has invested $ 2.5 million in tooling.
For UzSungwoo, this is the second project of cooperation with enterprises of the Russian automobile industry, added Bobur Mukhiddinov. Last year, the plant, in cooperation with Gorky Automobile Plant group (GAP), mastered the production of mounting plates for the Gazelle Next model.
UzSungwoo JV was established on an equal footing with Uzavtoprom and South Korean Sungwoo Hitech Ltd. In July 2012, a plant for the production of stamped products for cars worth $47.8 million was commissioned in Fergana. The company's capacity is 125,000 sets annually for models manufactured at UzAuto Motors (formerly GM Uzbekistan).
PSMA Rus LLC (Peugeot Citroen Mitsubishi Auto) is a joint venture of PSA Peugeot Citroen Group (70 percent) and Mitsubishi Motors Corporation (30 percent). The plant is located on the territory of the industrial park "Rosva". A full cycle of auto production is established there, including welding, painting and final assembly operations.
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