Uzbekistan to create a joint venture for the production of asphalt mixes for road construction

Tashkent, Uzbekistan (UzDaily.com) -- Transyulkurilish and Papenburg International GmbH (Germany) plan to create a joint venture of JV LLC Papenburg Uzbekistan.

The Road Administration Committee under the Ministry of Transport of the Republic of Uzbekistan and GP Günter Papenburg AG (Germany) signed an agreement on the creation of a joint venture in the Republic of Uzbekistan for the production of asphalt concrete mixes for road construction, finished concrete products, and the implementation of assembly work.

The size of the authorized capital of JV LLC Papenburg Uzbekistan will amount to 5,714,286 euros, of which the share of the company Papenburg International GmbH (Germany) in the amount of 70 percent (4,000,000 euros) is formed from cash, equipment and other property.

The share of Transyulkurilish in the amount of 30 percent (1 714 286 euros) is formed from the funds of the required profit accrued on the special account of the Committee on Roads under the Ministry of Transport of the Republic of Uzbekistan.