Indorama plans new investments in Uzbekistan’s key sectors

Tashkent, Uzbekistan (UzDaily.uz) — Indorama, which has operated in Uzbekistan for 15 years, plans to launch new projects in the textile, chemical and agricultural sectors as well as mineral resource development, Deputy Prime Minister of Uzbekistan Jamshid Khodjaev said on his LinkedIn page.

The company has already invested more than US$1 billion in Uzbekistan. According to Khodjaev, Indorama has evolved from a major investor into a long-term industrial partner, with its operations now spanning the textile, chemical and agricultural sectors.

At a meeting with Parakash Kejriwal, chairman of the supervisory board of Indorama Corporation, the sides discussed further cooperation and preparations for new projects. Priority areas include processing products with high added value, fertilizer production, agricultural processing and mineral resource development.

A new textile complex is planned in Kashkadarya region. The sides are also considering the development of a raw-material base for fertilizer production and an integrated agricultural processing complex.

Another area of cooperation will be the development of ilmenite deposits in Karakalpakstan.

Khodjaev said that expanding the activities of major investors should involve more than simply increasing investment volumes. He identified deeper production localization, the creation of new production chains, technology deployment, job creation and increased output of high-value-added products as important outcomes.

The deputy prime minister said this approach would form the basis for the next stage of Uzbekistan’s long-term partnership with Indorama.