HPC systems JV starts its work at Navoi FIEZ

The enterprise specializes on production of electric cables and wires, resistant to high voltage.

The joint venture employs 150 people. The enterprise, was opened with Chinese investments for US$20.45 million, can produce good for 350 billion soums a year from local raw materials, UzA reported.

Almalyk Mining and Metallurgy Combine supplies raw materials for cables from copper and aluminum. The products of the enterprise meet international standards.

Uzkabel implemented the investment project “Organization of production of power cables on the base of new joint venture created with JV OJSC Uzkabel at Navoi free industrial and economic zone” with the cost of US$20.455 million.

Within the project, Almalyk Mining and Metallurgy Combine (AGMK), Uzkabel and China’s Gulf Cable Trading Company created a joint venture Нayat Power Cable Systems LLC with the charter capital of US$18.8 million.

The venture will produce power cables and self-carrying isolated wires with cross-linked polymer. The capacity of the venture is 10,000 km, of which at least 60% will be exported.

In line with the resolution, share of Gulf Cable Trading Company in the charter capital of Нayat Power Cable Systems makes up 50%, AGMK – 25% and Uzkabel – 25%.

Navoigrajdanproyekt was a general designer of the project, while Navoiifrezone” was a general contractor on construction of the object on “turn-key” basis.

Navoi FIEZ was created in line with the presidential decree from 2 December 2012. The zone has been established on the territory of one of the most developed industrial centers of Uzbekistan, in Navoi region. Offering foreign investors a wide range of opportunities for doing business and initially endowing them with important competitive advantages, the Navoi FIEZ provides all the necessary conditions for establishment of industrial complexes with full production cycle from raw materials to manufacturing finished goods.

According to Navoi FIEZ, currently 16 enterprises operate in the zone, which produce TV-boxes, ADSL-modems, DSLAM devices, spare parts for automobiles, cosmetics, pipes, etc.