Synthite Industries Ltd, State Investment Committee discuss cooperation issues

Tashkent, Uzbekistan (UzDaily.com) -- Deputy Chairman of the State Investment Committee Shamil Burnashev held a meeting with the leadership of the Indian company Synthite Industries Ltd.

From 10 to 16 December, the delegation of Synthite Industries Ltd visited Uzbekistan to discuss further steps to implement a joint project for the cultivation and processing of pepper. Pepper is selected as an experimental crop for this project.

As part of the official visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to India, Uzbekoziqovqatsanoat Holding and Synthite Industries Ltd reached an agreement on organization of pepper processing capacities for US$4 million.

Synthite Industries Ltd is India’s largest manufacturer and exporter of spices and essential oils. The company has more than forty years of experience in the global market, the range of products consists of 500 items, focused on herbal ingredients for flavor and aroma solutions. The company’s turnover in 2017 amounted to more than US$250 million.

The company’s products are widely used in the food industry for bakery and confectionery products, dairy products, pickles, various types of oils, sauces and ketchups.

 During the visit, the company representatives met with the leadership of the khokimiyats of Samarkand, Khorezm and Tashkent regions, where they were shown land for growing and processing agricultural crops. Previously, these regions were selected for the project.

During business negotiations with Shamil Burnashev, Deputy Chairman of the State Committee on Investments, the head of the delegation of Synthite Industries Ltd stressed that the representatives of the Indian company are interested in offering Uzbek partners, and by the beginning of 2019 they plan to complete marketing research and start growing the first experimental samples within a year.

In turn, Shamil Burnashev noted that the leadership of Uzbekistan pays great attention to the development of agriculture, including increasing crop diversity, introducing advanced innovative and resource-saving technologies to the agricultural sector, and India’s experience in this area is interesting for the country. From the side of the committee and authorized departments, if necessary, information and advisory support will be provided.

At the end of the meeting, provisional dates for the next visit of the delegation of Synthite Industries Ltd for the implementation of the next stage of the investment project were discussed.