South Korean company to launch electronic gas meters plant in Uzbekistan by September
Uzbekistan, Tashkent, June 24 /Trend, D.Azizov/
South Korean DongHo ENC So.LTD Company will establish a joint venture on production and assembly of electronic gas record-keeping equipment in Uzbekistan by September this year, the representation of the company said.
In October last year DongHo ENC Co. Ltd and National Holding Company (NHC) Uzbekneftegaz signed an agreement to establish a joint venture UNG-DONHO Gascom on a parity base with authorized capital of $500,000.
According to the document, the joint venture created to implement the project to build a plant worth $5 million will produce in the initial phase 100,000 domestic and industrial gas meters per year.
The share of the Korean side in the form of supplying equipment for the company amounts to $2.5 million. The share of Uzbekneftegaz in the construction of the plant totals $2.5 million.
Up to now, the construction of the plant was completed, in August it is scheduled to begin installation of technological equipment. In the first stage of production, the plant will produce domestic gas meters, and in the future - and industrial.