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NEWS

Uzavtosanoat to utilize investments for US$257.6m in 2012

1 February 2012

http://uzdaily.com of 2/1/2012 - Uzavtosanoat joint stock company, which unites enterprises of automobile industry of Uzbekistan, is planning to utilize investments for US$257.6 million in 2012.

It is expected that US$192.8 million of total investments will be own resources of Uzavtosanoat, US$19.4 million - foreign investment and US$45.5 million - loans of local banks.

In particular, it is planned to utilize US$136 million within the project on launch of serial production of Chevrolet Cobalt sedan at GM Uzbekistan.

Uzavtosanoat will invest some US$70 million to projects on production of components and spare parts for Chevrolet Cobalt at the existing enterprises.

Man Auto-Uzbekistan, an Uzbek-German joint venture, will launch new capacities on production of commercial vehicles at Samarkand region.

The first stage of the project envisages production of 3,000 trucks and chassis of MAN a year. The project cost is US$30 million.

UzSungwoo will launch production of stamped/welded automobile parts with the cost of US$47.8 million. The designed capacity of the plant is 120,000 sets a year. The venture was founded by Uzavtosanoat and South Korean Sungwoo Hitech Company on an equal footing.

Uzauto-austem JV will start production of wheel disks and chassis junctions for new models of GM Uzbekistan with the cost of US$31 million in Andijan. Annually, the venture will produce 900,000 wheel disks and 123,000 chassis junctions.

Uzavtosanoat will also direct US$42.9 million to expansion of production at the existing enterprises on production of components and spare parts.