New sugar plant to be commissioned in 3Q 2014

Angren Shakar will operate in the territory of special industrial zone Angren. The capacity of plant is 1,000 tonnes a day.

Within the project, the enterprise received customs preferences to import equipment for three years, the paper said.

Currently, the construction and assembly works are underway at the plant. The administrative building, warehouses for raw materials and ready goods, automobile and train scales, main production building and additional buildings were constructed.

Launch of the second sugar plant in the third quarter will help significantly decrease imports of sugar and meet internal demand. The first plant is located in Khorezm region.

The project cost of the second plant is US$108.5 million. It will produce 1,000 tonnes of sugar a day. The project is implemented in cooperation with Singapore’s and Welton International Enterprises Pte. Ltd. and Kito Investment Pte. Ltd., as well as Austrian SЕID Handelsgesellschaft m.b.H.

Khorezm Shakar JV OJSC is an only sugar producer in Uzbekistan. Khorezm Sugar Plant was commissioned in 1998. The cost of the plant is US$83.25 million. Preliminary plant was designed for processing sugar-beet, which was planned to plant in Uzbekistan. The capacity of the plant was 3,000 tonnes of sugar-beet a day. But low crop pushed to conserve the plant.

Shakar Investment, an Uzbek-Austrian-US joint venture, carried out project on transfer of the capacity to processing of cane sugar with the cost of US$2 million in 2002. Currently, the plant can process 1,000 tonnes of cane sugar a day.

Shareholders of the company are Motril Investments (Panama, 69.43%), KITO Investments (Singapore, 20%), SEID Handels GmbH (Austria, 10%) and employees (0.57%).