A new chapter in the industrial sector of Andijan is set to begin with the launch of elevator production, backed by the Chinese company Cashway Fintech. The agreement for this project was reached between the head of the Andijan region, Shukhrat Abdurakhmanov, and the management of Cashway Fintech.
Investment details
The project is set to be a significant investment in the region, with a total of $30mn being allocated for its implementation. This investment signifies a strong commitment from both the regional government and Cashway Fintech towards enhancing the industrial capabilities of Andijan.
Elevator production in Uzbekistan
According to the Statistics Agency, in the first 11M 2023, 799 elevators were produced in Uzbekistan. This figure represents a 2.3% increase compared to the same period a year earlier. In November alone, the production figure stood at 121 elevators.
Cashway Fintech’s role
Cashway Fintech, a renowned Chinese company, has a significant role to play in this venture. The company’s involvement not only brings in the necessary financial investment but also introduces its expertise in the industry to the region.
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