BAKU, Azerbaijan, June 14
By Klavdiya Romakayeva - Trend:
Uzbekistan and Tajikistan will create joint venture for passenger car production with a total cost of $2 million and production capacity of 10,000 vehicles, Trend reports referring to the press service of UzAuto Motors.
On the eve of the visit of the president of Uzbekistan to in Bakhtar Tajikistan, the first Uzbek-Tajik interregional investment forum was held.
During the forum, an agreement was signed to establish a joint venture Auto Motors Tajikistan for the production of UzAuto Motors passenger cars. This project will be implemented within the framework of the agreements reached during the visit of the Minister of Industry and New Technologies of Tajikistan Sherali Kabir to Uzbekistan on April 21, 2021.
To implement this project, on May 5-7, 2021, the working group of UzAuto Motors JSC visited Tajikistan, where it studied the production capacities of the partner AluminSokhtmon Company and negotiated the creation of a joint venture.
It was noted that the production capacity of the project, with a total cost of $2 million, will initially amount to 10,000 vehicles, with further plans to increase it to 35,000 units.
In addition, on March 28, 2020 the assembly of UzAuto Motors cars under the Chevrolet brand started in the city of Kostanay, Kazakhstan, at the production facilities of SaryarkaAvtoProm.
In April it was reported that UzAuto Motors issued Eurobonds for $300 million, which is the first international bond released among corporate issuers.
In turn, Raiffeisen Bank acted as one of the organizers of the placement of five-year Eurobonds of UzAuto Motors at a rate of 4.85 percent per annum.
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