Tashkent, Uzbekistan, Oct.8
By Demir Azizov- Trend:
Foreign enterprise Angren Shakar LLC has completed the construction of a sugar plant in the Tashkent province of Uzbekistan, the company representative told Trend.
The cost of the project stood at $108.45 million.
The company representative said a trial batch of products has already been produced at the plant and the act of the working committee has been signed. "It is expected to sign the act of the state commission in coming days. The plant will start working at the designed capacity (1,000 metric tons of sugar per day) by late 2014."
Singaporean Welton International Enterprises Pte. Ltd, Kito Investment Pte. Ltd. and the Austrian SEID Handelsgesellschaft mbH created foreign enterprise Angren Shahar LLC in 2012 with authorized capital of $20 million for the construction of a sugar plant in the Tashkent province. The plant will process raw cane sugar.
To date, Khorezm Shakar was the only sugar plant operating in Uzbekistan. Its design capacity is 1,000 metric tons per day. The plant worth of $83.25 million was commissioned in 1998. The owners of the joint venture of Khorezm Shakar JSC are Motril Investments SA (Panama, 69.43 percent), Kito Investment Pte. Ltd (Singapore, 20 percent), SEID Handelsgesellschaft mbH (Austria, 10 percent). Some 0.57 percent of the company shares is owned by the workforce.
The output of Khorezm Shakar increased by 10.3 percent in 2013 and stood at 356,470 metric tons, according to the official statistics.
The annual demand of Uzbekistan for sugar is around 700,000 metric tons.
It is expected that once the new plant is commissioned, the country will fully meet its demand for this product.