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New JV on production of auto components were created in Uzbekistan

September 14/2011

( -- Two new joint ventures on production of components for cars were created in Uzbekistan in cooperation with the Korean companies. Both of them will be located in Andijans Bobur OJSC.

Uzavtosanoat joint stock company and Austem Co. Ltd of South Korea created a joint venture, Uzauto-austem, on production of wheel disks and chassis junctions for new models of cars, produced at GM Uzbekistan. The project cost is USD 23 million. The charter capital makes up USD 8.6 million. Annually, the venture will produce 800,000 wheel disks and 100,000 chassis junctions.

Avtosanoat invest LLC, Uzavtosanoat JSC, and Er cs limited founded Uzerae climate control JV with charter capital of USD 7 million. The enterprise will produce 250,000 units of radiators, air conditioner, ventilation, and heating systems a year. The project cost is USD 20 million.

It is expected that both enterprises will be commissioned in 2013.

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