Baku, Azerbaijan, February 5
Trend:
Chinese company Huaxin Cement will build a new cement plant in Zafarabad district of Jizzakh region for $150 million, Trend reports via government decree.
The new plant will have production capacity of 1.2 million tons of Portland cement per year. The Chinese side has already set up a foreign company Huaxin Cement Jizzakh in the form of a limited liability company for the project.
It is planned that the new facility will be commissioned in December 2019 and expected to export about 120,000 tons of cement at the first stage of production.
The government ordered the Jizzakh region to ensure the allocation of non-agricultural land area of 81 hectares for the construction of a cement plant by the beginning of March.
As part of the project, Huaxin Cement Jizzakh was exempted from paying corporate income and corporate property taxes till January 1, 2021 and from customs duties on equipment, raw materials and materials, cars, mechanisms and others till October 1, 2020.
Furthermore, the company is exempt until October 1, 2020 from: the payment of value added tax on works (services) performed by non-residents; payment of fees, government duties and payments for licensing and certification of services provided and imported goods; mandatory certification procedures - imported materials in the absence of relevant accredited testing laboratories in the country.