New Uzbek-Italian JV Avtosanoat – Landi Renzo founded
24/06/2014 00:10
New Uzbek-Italian JV Avtosanoat – Landi Renzo founded
24/06/2014 00:10
Tashkent, Uzbekistan (UzDaily.com) -- A joint venture, specializing on production of engine compartment equipment to transfer automobiles to consumption of natural gas, was created in Uzbekistan.
The joint venture, Avtosanoat – Landi Renzo, was created by joint stock company Uzavtosanoat and Italian company Landi Renzo S.p.A. The enterprise will work in the territory of free industrial and economic zone Navoi.
The enterprise will produce 25,000 units of engine compartment equipment to transfer automobiles to consumption of natural gas.
The founders of the joint venture, Avtosanoat – Landi Renzo, will direct investments for US$1.8 million into the venture in the first phase.
Within the project, it is planned to localize production and gradually increase share of local raw material in production, as well as create new jobs.
Navoi FIEZ was created in line with the presidential decree from 2 December 2012. The zone has been established on the territory of one of the most developed industrial centers of Uzbekistan, in Navoi region.
Offering foreign investors a wide range of opportunities for doing business and initially endowing them with important competitive advantages, the Navoi FIEZ provides all the necessary conditions for establishment of industrial complexes with full production cycle from raw materials to manufacturing finished goods.
According to the website of Navoi FIEZ, currently 18 enterprises were registered in the territory of the economic zone.
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