Indorama Corporation, a Singaporean company, is planning to expand its investments in Uzbekistan by $250mn, the press service of president of Uzbekistan has reported.
The company has already implemented a number of projects in Uzbekistan, including in the cultivation and processing of cotton fiber, as well as the modernization of the Kokand superphosphate plant.
Currently, Indorama Corporation is planning to expand the capacity of the Ferganaazot plant, which it acquired in January, and to launch modern textile production facilities.
Shavkat Mirziyoyev, the President of Uzbekistan, supported the company's plans and noted the importance of adopting a roadmap to promote joint projects.
Indorama Corporation's expansion in Uzbekistan is a significant development for the country's economy. The company's investments will help to create new jobs, boost industrial production, and increase exports.
In addition to the economic benefits, Indorama Corporation's expansion will also help to strengthen ties between Uzbekistan and Singapore. The two countries have a long history of cooperation, and Indorama Corporation's investments are a testament to the growing economic relationship between the two countries.
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