21:56 21-09-2014
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
17:01 Prosecutors General of CIS members to gather in Dushanbe16:23 Turkish hostages freed from IS16:07 Kyrgyzstani youth attends peacebuilding trainings in Georgia and Armenia15:49 Tatarstan ready to participate in construction of oil refinery in Kazakhstan - Vice PM15:28 Government approves Kyrgyz-Russian Development Fund agreement14:46 Presidents of Kazakhstan, Tatarstan hold talks14:20 Some Naryn residents oppose vaccination of their kids claiming it contradicts to their religious beliefs14:08 Aga Khan Museum revealed in Toronto13:31 24 commercial banks operate in banking system of Kyrgyzstan as of July 113:06 Kyrgyzstan's joining Customs Union tests businessmen's strength - Atambayev12:42 Russian Space Agency to lauch Proton-M rocket carrier from Baikonur in September12:28 Tajik PM off for UN General Assembly in New York12:27 Problem with foul odor coming from Zhongda oil refinery needs to be solved – First Vice PM12:15 North Korea says imprisoned American tried to become 'second Snowden'11:53 Central Bank registers 327 exchange offices in Kyrgyzstan as of July 3111:41 French jets strike in Iraq, expanding U.S.-led campaign against Islamic State11:35 Central Bank sets 50mln-som minimum authorized capital requirement for newly emerging microfinance institutions11:14 Upcoming autumn-winter period tough – Vice PM Dil10:54 Vice PM Sarpashev urges Chui government to hold talks with Gazprom on gas supplies to major consumers at wholesale prices10:34 Government orders China’s TBEA to prepare feasibility study for construction of Karakeche TPP
Astana
+14° C
Ashgabat
+29° C
Bishkek
+20° C
Dushanbe
+26° C
Tashkent
+26° C
exchange rates
 
69.76
54.18
8.82
1.41
234.13
181.95
29.63
4.73
6.40
5.00
0.81
0.13
3117.21
2359.56
384.37
62.66
3.66
2.85
0.46
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