Uzbekistan, Tashkent, Sept. 10 / Trend D. Azizov /
Uzbek-Korean JV Uz-Shindong Silicon started construction in the Angren special industrial zone (SIZ) (Tashkent region) of an enterprise for the production of industrial silicon worth $8.7 million, a source in government circles told Trend on Monday.
According to the source, the plant was originally planned to be located in the Navoi free economic zone, but later it was decided to place it in the Angren SIZ.
JV has currently embarked on an active phase of the project. The estimated capacity is 5000 tons of industrial silicon per year. The raw material for the new production will be quartz which is planned to be mined in the Jizzakh region.
JV Uz-Shindong Silicon was created in 2008 for the exploration and development of fields of quartz and quartzite in promising areas of the Jizzakh region. Founders are the State Committee for Geology and Mineral Resources (Goskomgeo) of Uzbekistan and Korean Shindong Enercom Inc. The joint venture is created on a parity basis with a share capital of $2.4 million.
This year, Uzmetkombinat and Solartech, a wholly owned subsidiary of Shindong Enercom Inc., also became JV shareholders. Due to a change in the composition of the joint venture, participants in the authorised fund have grown to $ 4.8 million.
The project is financed by the founders of the joint venture investments and leveraged resources.
As expected, the production facility of silicon will be commissioned in early 2013. This will be the second company to produce such products in Uzbekistan.
In August, the Uzbek-Korean JV Uz-Kor Silicon commissioned a plant for the production of silicon in the Navoi region worth $20.8 million. The design capacity is 12,000 tons of industrial silicon per year. The founders of the joint venture are Goskomgeo, Korean Neoplant and Navoiazot.
In the future, on the basis of the JV Uz-Kor Silicon and JV Uz-Shindong Silicon it is planned to master the production of poly-and single-crystal silicon.