Uzbekistan and South Korea implement three projects in the automotive industry
22/11/2017 17:21
Uzbekistan and South Korea implement three projects in the automotive industry
22/11/2017 17:21
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan and South Korea agreed to implement three projects in the automotive industry with a total value of US$253.15 million.
Evergreen Motors and the State Committee for Investments of Uzbekistan signed a memorandum of understanding on organization of the serial production of Hyundai cars. The cost of the project is US$200 million.
Evergreen Motors also intends to organize production of forklift trucks in Uzbekistan. About US$50 million will be allocated to the project implementation.
South Korean Everdigm will create a joint venture to produce construction machinery in cooperation with Uzavtosanoat. The Korean side will invest US$3 million to this project.
The documents were signed during the state visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to the Republic of Korea.
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