TASHKENT, Uzbekistan, October 18. Russian Technonicol, a manufacturer of roofing, waterproofing, and thermal insulation materials, has started the construction of its first plant in Uzbekistan, Trend reports.
The new plant for the production of thermal insulation materials from extruded polystyrene foam (XPS) is said to start operating in Uzbekistan’s Angren region in the third quarter of 2024.
The facility's annual production capacity is said to reach approximately 300,000 cubic meters of finished products, with investments exceeding 1.3 billion rubles ($13.36 million).
The project involves constructing a factory and a product storage warehouse, as well as installing an asphalt site spanning about 1.5 hectares.
The company will manufacture a comprehensive range of XPS plates, ranging in thickness from 20 to 120 mm, primarily for insulating foundations, subterranean structures, floors, facades, roofs, and other building components.
Construction will enter the active phase early next year, creating approximately 50 high-performance jobs in Angren upon the new facility's launch.
Uzbekistan is actively attracting foreign investments in the industrial sector. Earlier this month, the Singapore-based Indorama company, specializing in the production of urea and phosphate fertilizers, will expand the capacity of the Ferganaazot plant it bought earlier this year by investing an additional $250 million.
Moreover, Saudi Arabia’s ACWA Power, specializing in power generation, renewable energy, and desalinated water, will invest approximately $1.6 billion for the construction of a wind power plant, a storage station for electricity, and power transmission lines in the Kungrad district of Uzbekistan’s Karakalpakstan region.
Overall, companies have invested a total of 139.1 trillion Uzbek soums ($11.4 billion) in Uzbekistan in the first six months of 2023. A significant share of these investments, 59 trillion soums ($4.8 billion), or 42.4 percent, account for foreign investment and loans directed to fixed capital.