BAKU, Azerbaijan, Apr. 27
By Klavdiya Romakayeva - Trend:
The design capacity of the Uzbek-Hungarian joint venture will provide for the processing of more than 200,000 tons of sunflower seeds per year, Trend reports with reference to BMB Trade Group.
It is reported that the ceremony of signing an investment agreement for the production of sunflower oil in the Jizzakh region between Uzbek BMB Trade Group and Hungary Kiss Group took place via the videoconference.
The event was attended by the Ambassador of Uzbekistan to Vienna Abat Fayzullaev, Ambassador of Hungary in Tashkent Peter Santo, Chairman of the BMB Trade Group Bekzot Mamatkulov, Director of Kiss Group Laszlo Kiss and Head of the Department of the Ministry of Investment and Foreign Trade of Ubekistan Akram Aliyev.
Ambassador Abat Fayzullayev noted that the signing of an investment agreement for the production of sunflower oil in the Jizzakh region is a direct result of the agreements reached between the leaders of the two countries during the official visit of the Hungarian government delegation to Tashkent at the end of March 2021.
Director of Kiss Group expressed gratitude to the Uzbek side and BMB Trade Group for its active involvement, as a result of which the parties were able to come to an agreement on the launch of this large-scale project.
The head of BMB Trade Group, Bekzot Mamatkulov, also agreed that this large-scale project is very promising and expressed the hope that it will further strengthen trade and economic cooperation.
According to the signed document, the design capacity of the Uzbek-Hungarian joint venture provides for the processing of more than 200,000 tons of sunflower seeds per year. The total cost of the project amounts to over 90 million euros, of which 52 million euros are foreign direct investments.
It was noted that the growing demand for vegetable oil throughout the country clearly demonstrates the importance of the implementation of this project.
According to statistics, the annual demand for vegetable oil in Uzbekistan accounts for 475,000 tons, while Uzbekistan’s fat-and-oil enterprises produce 259,000 tons of products per year, providing only 55 percent of the needs of the country's population.
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