▲ Up
 
04:31 29-08-2016
MAIN АКИpress CA-News
About us On-line subscription
KazakhstanKyrgyzstanMongoliaTajikistanTurkmenistanUzbekistanWorld
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
17:05 Somalia beach restaurant attack kills at least 1016:34 Uzbekistan may release 4 detained Kyrgyz citizens today16:31 OSCE supports workshop on best practices in border surveillance for Kazakh, Kyrgyz and Tajik border officials16:26 Situation with detained 4 citizens of Kyrgyzstan by Uzbek police under control of country's leadership – Vice PM16:02 Diplomatic consultations on release of Kyrgyz citizens detained by Uzbek police in progress15:56 4 citizens of Kyrgyzstan still held in police department in Uzbekistan15:40 Kyrgyzstan's trade with EAEU countries down by 28.9% in H115:31 80% of tickets for Second World Nomad Games' opening, closing sold15:30 Islamic Development Bank preparing country strategy for Kyrgyzstan: Ministry of Economy15:15 Upstream projects, downstream disposals drive Kazakhstan oil and gas sector: Fitch15:00 Kazakhstan, Japan discuss transport, logistics and tourism cooperation14:49 President Atambayev's younger daughter releases clothing line14:30 Agriculture Ministry denies ban on honey export by Kyrgyzstan to China14:25 Turkmenistan awaiting decision on land in Issyk-Kul for construction of 5-star hotel14:16 It is possible to build 93 hydropower plants in Kyrgyzstan: HPS executive director13:51 President Atambayev emphasizes importance of Kyrgyz-Chinese projects in Kyrgyzstan13:36 France's highest administrative court to decide on burkini ban on beaches13:27 Bomb kills 8 riot police in south-east Turkey13:26 Bishkek-Manas airport road open after reconstruction: Ministry of Transport12:54 Kyrgyzstan's radio relay station in disputed Kyrgyz-Uzbek border area functions normally, Telecommunications Agency says
Astana
+21° C
Ashgabat
+36° C
Bishkek
+32° C
Dushanbe
+29° C
Tashkent
+34° C
Ulaanbaatar
+24° C
exchange rates
 
77.65
68.79
10.31
1.06
382.46
338.73
50.79
5.23
6.85
6.26
1.01
0.12
3286.53
2888.39
446.81
42.81
3.92
3.50
0.52
0.05

© AKIpress News Agency - 2001-2016. All rights reserved
Republication of any material is prohibited without a written agreement with AKIpress News Agency. Any citation must be accompanied by a hyperlink to 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