Uz-Shindong Silicon to open plan on silicon production
04/03/2014 14:38
Uz-Shindong Silicon to open plan on silicon production
04/03/2014 14:38
Tashkent, Uzbekistan (UzDaily.com) -- Uz-Shindong Silicon, an Uzbek-Korean joint venture, will open a plant on production of silicon at special industrial zone Angren in March 2014, chairperson of Shindong Enercom Inc. Kim Yun Seek said at the Uzbek-Korean Business Forum last week.
He said that Shindong Enercom Inc. launches a plant on production of silicon with the capacity of 6,000 tonnes will be launched in Angren in March. The raw materials will be supplied to the plant from quartz field in Jizzakh region.
The project with the cost of US$10 million will be financed due to direct investments of the founders of the venture.
The founders of Uz-Shindong Silicon are the State Committee on geology and mineral resources of Uzbekistan and Uzmetkombinat open joint stock company, Shindong Enercom Inc and its subsidiary Solartech.
The first plant on production of technical silicon was launched in Uzbekistan in 2012. Uz-Kor Siliсon, an Uzbek-South Korean joint venture, commissioned the first line of the capacities on production of technical silicon in Navoi region of Uzbekistan.
Within the project, the processing complex with the capacity of 12,000 and mining comples with the capacity of 39,000 tonnes of ores a year were constructed.
The project with the cost of US$20.45 million was financed due to foreign direct investments of NeoPLANT at the size of US$9.65 million and loans of Korean firm for US$3.3 million.
Navoiazot invested US$5.2 million of own resources to the project. At the same time, Asaka Bank allocated US$3.3 million loan.
State Committee on geology and mineral resources of Uzbekistan and NeoPlant created Uz-Kor Silicon JV in September 2008. Each side holds 50% stake in the venture. The charter capital of the venture is US$10.4 million. Later, Navoiazot became one of founders of the venture in December 2011.
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