03:31 23-10-2014
MAIN Russian
About us On-line subscription
KazakhstanTajikistanUzbekistanKyrgyzstanTurkmenistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
New silicon plant in Uzbekistan's Angren is yet to be built

Bishkek (AKIpress) - silicon-metal The Ministry of Economy of Uzbekistan announced on July 23 that the Uzbek-South Korean joint venture – Uz-Shindong Silicon – had opened a new silicon plant in the special industrial zone of Angren.

However, the plant's main building is still being constructed and equipment is still being installed, according to construction workers engaged in the project. The expected opening date is in September, UzNews reported.

Initially the plant was expected to be ready for production in the spring of 2013, the date was then shifted to August 2013, then to December 2013. President of the Shindong Enercom Inc. Kim Yun Seek announced the intention to launch the plant in March 2014 during the Uzbek-Korean business forum in February. However, the process hadn't been started back than.

The $10 million financing for this project was made possible by direct investment in the newly created joint venture by four partners: the State Geology Committee of Uzbekistan, South Korean Shindong Enercom Inc., the publicly traded Uzmetkombinat and Solartech (Shindong’s subsidiary).

In particular, Shindong Enercom allocated $1.7 million, Solartech – $1.8 million in equipment and other production-related assets, and Uzmetkombinat – $1.2 million, while additional $3.8 million were taken out as loans to be paid back in five years with an interest rate of eight percent.

Meanwhile, plant construction workers say that some work, including welding and finishes to the buildings, was done poorly, and some of the work had to be redone. The construction contractor has been changed several times during the construction process.


Twitterfacebookprint
10:03 06.08.2014
LATEST NEWS
17:52 Astana joins top-21 smart cities in the world - Nazarbayev17:42 225 youth resource centers to launch by end of 2014 in Kazakhstan17:40 Emergency power cut offs inevitable in case of electric network overload, bad weather conditions, says Energy Ministry17:38 Interior Ministers of Tajikistan, Russia consider cooperation in fight against organized crime17:22 Official unemployment rate in Kyrgyzstan makes 2.3% as of October 117:20 Kyrgyz Parliament ratifies agreement with IDA on construction of 56 km of road sections in Batken region for around $37 million17:16 Bishkek holds flashmob dedicated to Snow Leopard Day17:14 Trade between Tajikistan, Moscow region approximately equal to $250 million – Governor of Moscow region17:06 Two snow leopards of Kyrgyzstan are in Almaty Zoo, their sense of vision recovered by 30% – NABU16:57 Man with 25 kg of drugs detained in Chui region16:53 Kyrgyzpatent receives 2,753 applications for intellectual property YTD16:51 Nurlan Nigmatulin appointed as interim Secretary of State of Kazakhstan16:50 Russia's economic blockade by U.S., EU behind growth of US dollar exchange rate against som – expert16:47 Tajikistan, Moscow region plan to sign cooperation agreement in December16:47 OSCE Centre in Astana supports human rights education for police16:40 Farm family from Kyrgyzstan manages to rehabilitate two troubled teens from Germany16:36 Volume of counterfeit goods in Kyrgyzstan reportedly reaches $4.2 bln16:26 Uzbekistan to switchover to closed heating system by 201616:16 Governor of Naryn region, Representative of Aga Khan Development Network discuss construction of University of Central Asia15:59 EU-Central Asia high-level dialogue on security scheduled to be held in Dushanbe
Astana
+8° C
Ashgabat
+22° C
Bishkek
+18° C
Dushanbe
+19° C
Tashkent
+17° C
exchange rates
 
71.29
55.64
9.04
1.36
232.37
181.34
29.63
4.43
6.35
4.99
0.82
0.12
3084.28
2367.40
385.74
61.13
3.65
2.85
0.47
0.07

© AKIpress News Agency - 2001-2014
Use of the AKIpress.com materials must be accompanied by a hyperlink to www.akipress.com
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)90-07-75