Baku, Azerbaijan, Nov 2
By Natavan Rzayeva - Trend:
The Russian Nikol-Pack company is investing in paper production of the Uzbek Angren Pack company, Trend reports via Uzbek media.
The initial investment was made into the paper-making equipment, the capacity of which reaches 80,000 tons of finished products a year.
For the last three years, 450 billion soums ($42 million) were allocated to restore the production of paper products, buildings, structures and equipment of Angren Pack.
Nikol- Pak bought a controlling stake of Angren Pack in June 2018. At the time of the transaction, there was no active production in the company, as Angren Pack was in the middle of liquidation.
Within three years, the Angren Pack plant’s own gas, energy and water supply was established, modern treatment facilities, and technological equipment have been installed.
In addition, the implementation of the project made it possible to increase the export share of Uzbekistan in high-quality paper products.
Nikol-Pack completed the purchase of shares of Angren Pack in October 2021, increasing its stake to 99.9 percent.