President Shavkat Mirziyoyev visited the joint venture "Khorezm Insulation Group" located in Urgench on February 29. The venture is a significant contributor to the country's burgeoning construction sector, press service of the president reported.
In response to the growing demand for energy-efficient construction materials, Uzbekistan has prioritized the utilization of basalt materials. Analysis indicates an annual demand of approximately 80,000 tons for slabs crafted from this versatile material. The Khorezm Insulation Group, established through a €41 mn investment project, capitalizes on this demand by producing thermal insulation boards sourced from basalt extracted from the Karatau mountains in Karakalpakstan.
The venture boasts an impressive annual production capacity of 30,000 tons, enabling it to not only cater to domestic construction needs but also export products valued at $10 mn to markets including Russia and neighboring countries. Equipped with cutting-edge technology sourced from Germany, Turkey, Russia, and China, the Khorezm Insulation Group has emerged as a beacon of innovation in the region, creating 300 employment opportunities for local residents.
During his inspection of the facility, President Mirziyoyev underscored the significance of enhancing product quality and augmenting the localization of production. Furthermore, the venture is currently engaged in a project aimed at producing 15,000 tons of polypropylene and polyethylene annually. This expansion initiative is not only expected to generate an additional 80 jobs but also enhance export capacity by an extra $10 mn.
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