NEW INVESTORS, NOVEL PROJECTS

Singapore’s Indorama Group of Companies has signed an agreement on the establishment of a new joint venture, Indorama Kokand Fertilizers in Uzbekistan.

The project of a total investment cost of $80 million will be carried out in several phases within five years. The share of the foreign investor in the new joint venture will make up 75%, and the remainder of the shares will be funded by the Uzbek side.

The joint venture will be based on the Qo’qon Superfospfat Zavodi and produce mineral fertilizers to advanced technologies. Along with the upgrade and introduction of new technologies in the current manufacture, the project also provides for the organization of production of new mineral fertilizers like dicalcium phosphate, potassium sulphate and potassium nitrate, which were not previously produced in Uzbekistan.

Today, Uzbekistan is the region’s only producer of all three types of fertilizers - nitrogen, phosphate and potassium, as well as methanol and caustic soda, owing to the availability of raw materials and high demand of the boosting agricultural sector. Meanwhile, there is a considerable export potential for this type of products in the region and in CIS countries.

Last year, Uzbekistan launched its first large-scale production of complex fertilizers. New capacities were established on the basis of Samarkandkimyo enterprise. The total project cost exceeded $20 million, including $5 million of own funds of enterprises, and $15 million of foreign investments and loans.

Jahon Information Agency