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    Uzbekistan

    Uzbekistan's basalt industry attracts $498 mn investment

    Uzbekistan's basalt industry attracts $498 mn investment

    President Shavkat Mirziyoyev's visit to the Forish district of the Jizzakh region on April 8 highlighted the development of the "Basalt Uzbekistan" cluster, focusing on basalt stone mining and fiber production as key drivers of industrial growth, presidential press service informed.

    Historically, Forish district had low land use efficiency, predominantly characterized by cattle farming. However, seven years ago, the introduction of basalt stone mining and fiber production transformed the landscape. With investments totaling $498 mn and the adoption of advanced technologies from Germany, France, Italy, and the Czech Republic, the region saw the establishment of six projects across 300 hectares, creating an industrial cluster.

    President Mirziyoyev's previous visit in January 2019 prompted the expansion of activities within the cluster. Currently, annual production stands at 177,000 tons of basalt stone, yielding 42 varieties of products, including special fiber, reinforcement, composite geonet, and heat-insulating plates. Notably, 45,000 tons of products worth UZS 554 bn ($44 mn) were produced last year, with 80% exported to various countries including the USA, UK, Italy, and Russia.

    Basalt-based construction materials offer advantages such as rust resistance, lightweight durability, and resilience to environmental factors. During the visit, emphasis was placed on promoting collaboration with domestic and international businesses, streamlining quality certification processes, and expanding market access.

    The "Basfiber Trade" enterprise is set to increase production capacity, targeting an annual output of 25,000 tons of fiber and fabric from basalt stone. With $145 mn invested in state-of-the-art equipment, the enterprise aims to cater to domestic and international demands, contributing to economic growth and employment.

    Government officials have been tasked with identifying 20 new high-value-added projects valued at $500 mn, with the potential to create 2,000 additional jobs within the basalt industry.

    Earlier Daryo reported that Uzbekistan has placed emphasis on utilizing basalt products. Studies suggest a yearly need for around 80,000 tons of slabs made from this adaptable material. Addressing this demand, the Khorezm Insulation Group, initiated through a €41 mn investment initiative, specializes in manufacturing thermal insulation boards derived from basalt mined in the Karatau mountains located in Karakalpakstan.

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    08.04.2024, 17:13   Comments (0)   2574
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