Monday December 5 2022

Indian company plans to implement investment projects in Uzbekistan

10 December 2018 13:00 (UTC+04:00)
Indian company plans to implement investment projects in Uzbekistan

By Abdul Kerimkhanov

The Indian company Rising Hongfa Heavy Machinery is implementing a project to organize the production of modern concrete materials in Uzbekistan.

The project cost will be about $ 3 million. During the first official visit of the President of Uzbekistan Shavkat Mirziyoyev to India, Uzstroymaterialy JSC and Rising Hongfa Heavy Machinery signed an agreement on organizing the production of modern concrete materials.

The investment project includes the construction of a modern plant for the production of new types of refractory, waterproof, insulating concrete wall slabs for the needs of the construction industry in 2020.

The preliminary location of modern production is the city of Bekabad.

The delegation of Rising Hongfa Heavy Machinery visited Uzbekistan from December 1 to December 8 to work on issues of the next phase of the project.

Representatives of the Indian company held meetings and negotiations in various departments and organizations.

At the Agency for the Development of the Pharmaceutical Industry, representatives of the delegation expressed their willingness to expand cooperation in this area, including the production of pharmaceuticals in Uzbekistan.

The parties agreed to exchange the necessary information on existing benefits and preferences in the pharmaceutical industry for investment cooperation.

The meeting at the Ministry of Health discussed the organization of training seminars for doctors and retraining of medical personnel in India.

During the meeting with the Deputy Chairman of the State Investment Committee Shamil Burnashev, the parties discussed the details of the implementation of the investment project, including information, consulting and organizational support.

The management of Rising Hongfa Heavy Machinery stressed that it is interested in developing cooperation in other sectors, including the modernization of medical institutions.

There are 145 enterprises with participation of Indian funds, 21 of which are fully Indianç in Uzbekistan. The volume of bilateral trade in 2017 amounted to $326.6 million.

In 2017, Uzbekistan was visited by more than 10,000 tourists from India. For the development of tourism today, the issue of creating two more direct flights from Tashkent to Mumbai and Chennai is being worked out. To date, direct flights from Tashkent to New Delhi and Amritsar have been launched.

Uzbekistan exports to India beans, balsams, raw silk, earth metals, fertilizers and other goods. The main products imported from India are medicines, ferrous metals, various technological equipment, spare parts for cars.


Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94

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