New joint venture in a cooperation with the Canadian company has been launched in Navoi region

14:35 07 September 2020 Economy
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First stage of the joint venture “Navoi Composite” LLC was launched in Navoi region recently.

This joint venture was organized with the Canadian company “CENTURY CREDIT ENTERPRISES LTD”, and was given the status “Navoi” free economic zone participator within the project “Organization producing of composite building materials.”

In this case, for the free economic zone “Navoi” enterprise 1.7 hectares land was allocated from the Navoi region.

During the project 1.5 million US dollars were allocated in investment (including 1.2 million US dollars in foreign directly investment) and 50 new jobs were created as a result of the first phase of the project.

– Our enterprise should have been launched earlier, – says the founder of the company Odil Zaripov. – However, in a reason of pandemic period, foreign experts could not come.  We managed to launch it with the potential of our own experts finally.

Yearly income of the project is 500 000 m2 of composite stone slabs, 1 000 m2 of processed artificial and natural stone products.  As a result, products in cost about 60 billion sums prepared, from this, one part which costs 500.0 thousand US dollars will be exported.  The most important, products in this project 95% of local raw materials are used in its production. Launching of the second company will create again 50 new jobs.

Temur Eshboyev, “Xalq so’zi”.

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