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    Uzbekistan Economics

    Chinese firm to invest $1bn in technology park in Uzbekistan's Jizzakh region

    Chinese firm to invest $1bn in technology park in Uzbekistan's Jizzakh region

    Mingyuan Silu Industry, a Chinese company, is set to embark on an endeavor in the Jizzakh region of Uzbekistan involving the construction of an industrial technology park, with an investment of $1bn in the Zaamin district.

    Photo: Mingyuan Silu Industry embarks on a $1bn endeavor in Uzbekistan's Jizzakh region
    Source: Uzbekistan 24

     

    The revelation of this initiative came to light through a presentation of the project, which was recently reviewed by the president on April 8. Mingyuan Silu Industry's vision aligns with the broader strategy of fostering economic growth and technological advancement in the region.

    This grand undertaking is part of a larger wave of investments slated for the Jizzakh region. With a total of 50 investment projects in the pipeline, the cumulative investment sum is estimated at $6.1bn. Among these ventures is the establishment of a BYD plant, a renowned Chinese manufacturer, within the Jizzakh Free Economic Zone (FEZ), with an investment worth $160mn.

    Furthermore, Mingyuan Silu Industry has outlined additional plans to enhance production capabilities within Jizzakh. One such initiative involves expanding the annual production capacity of glass and sanitary products to 8 mn square meters. The estimated investment for this expansion amounts to $150mn, with $35mn slated for investment this year alone. This endeavor is anticipated to generate 500 job opportunities while contributing to the local economy with projected budget revenues of UZS 14bn ($1.1mn).

    The scope of investment extends beyond the confines of Jizzakh, as evident from the involvement of Turkish company Esan Eczacibasi. Esan Eczacibasi is poised to undertake geological exploration and development activities in the Farish region's Uchkulach deposit, with an investment outlay of $120mn. This venture is projected to yield 1 mn tons of production annually, creating 300 new job opportunities. Although specific budget revenue figures are yet to be disclosed, the project marks a significant stride towards harnessing the region's mineral resources for economic growth.

    The collaborative efforts between MIPT (Moscow Institute of Physics and Technology) and Esan Eczacibasi signify a concerted push toward industrialization and resource utilization. Their joint venture aims to establish a mining and processing complex, alongside a plant dedicated to processing lead-containing products, at the Uchkulach field.

    Photo: China's investment in Jizzakh boosts regional growth
    Source: Ministry of Transport of Uzbekistan

     

    Moreover, the chemical industry is set to witness a surge in activity with the introduction of two joint projects with Chinese partners. These ventures entail the production of ceramic slabs, soda ash, calcium hydrogen orthophosphate, and calcium, with investments totaling $130mn in the Farish region. Additionally, a separate endeavor focusing on the production of diluted mineral fertilizers, valued at $76mn, is slated for implementation in the Zarbdar region.

    The textile sector is not to be left behind, with the "Textile Plant named after Sharaf Rashidov" gearing up to establish a state-of-the-art factory for textile production. With an investment of $120mn, this venture aims to employ 700 individuals while churning out up to 16 mn tons of products annually. The infusion of investments, especially in labor-intensive industries like textiles, underscores a concerted effort toward job creation and economic diversification.

    Furthermore, local entities such as Mirzachul Agroklaster Group and Paxtakor Teks are poised to contribute to the region's economic expansion. With investments totaling $55 mn, these companies are slated to establish new production facilities in the Mirzachul and Pakhtakor districts of the Jizzakh region.

     

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    19.04.2024, 08:00   Comments (0)   2095
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