Chinese chemical company HL Technology is poised to establish production facilities in Uzbekistan, as disclosed in a press release by Uzcharmsanoat. The meeting between the company delegation and Fakhriddin Boboev, a representative of the organization, highlighted the company's ambitious plans to create local production of industrial adhesives catering to diverse sectors such as leather goods, construction, furniture, and automotive industries.
The central theme of the meeting revolved around HL Technology's proposal to initiate local production of industrial adhesives, a crucial component for several industries. Jun Shao, the head of HL Technology, emphasized the high potential of the project during discussions, particularly underlining the significance of localizing raw materials for the leather industry.
The Chinese delegation put forth a strategic proposal to establish a plant for the production of adhesives and formaldehyde raw materials, crucial for various industrial processes. The preliminary estimate for this ambitious investment project stands at $10 mn, showcasing the scale of HL Technology's commitment to the Uzbek market.
According to Uzcharmsanoat, Uzbek companies imported approximately $31 mn worth of adhesive raw materials in 2023. HL Technology's proposed project aims to significantly reduce this dependency by covering at least 50% of the domestic demand through local production.
The finalization of the agreement for the implementation of the project is set to take place in China.
Earlier Daryo reported that advancing sustainable energy goals, China Energy Engineering Group (CEEC) has reached a significant milestone in Uzbekistan. Successfully linking the initial 400MW phase of its 1GW solar project to the grid, the initiative aligns with the Belt and Road initiative. The project addresses Uzbekistan's climate challenges, including sandstorms, through specialized trackers by Arctech, ensuring the resilience of the solar panels in the harsh regional weather conditions.
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