IKEA eyes launching innovative furniture production in Uzbekistan’s Tashkent region

Uzbekistan Materials 9 February 2021 15:33 (UTC +04:00)

BAKU, Azerbaijan, Feb. 9

By Klavdiya Romakayeva - Trend:

The Swedish IKEA plans to launch a factory for the production of innovative furniture in the Chirchik district of Tashkent region in Uzbekistan, Trend reports referring to the press service of the president of Uzbekistan.

According to the information, the production capacity of the factory will amount to 3,200 pieces of furniture worth $17 million. The total cost of the project is estimated at $52 million, of which $10 million is the company's own funds and $42 million in foreign investment.

It is expected that the launch of the factory will lead to the creation of 320 jobs. The object will be located on an area of 5.5 hectares. It is noted that the implementation period will amount to 22 months.

Earlier it was reported that 355 projects worth $1.6 billion will be launched this year in the Tashkent region. Of these, 198 projects are related to the industry, 81 projects - in the service sector, 76 projects - in agriculture.

Founded in Sweden in 1943 by 17-year-old Ingvar Kamprad IKEA is a multinational corporation that develops and markets quick-assembly furniture, kitchen appliances, and home accessories. The headquarters are located in the Netherlands.

Since 2008, IKEA has been the world's largest furniture retailer. Most of IKEA's stores and factories are owned by INGKA, a holding company that is in turn controlled by the Stichting INGKA Foundation, one of the 40 richest foundations in the world. At the end of August, Ingka Group owned 445 IKEA retail stores in more than 50 countries.


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