By Abdul Kerimkhanov
The trade and economic cooperation between Uzbekistan and China is undergoing a rapid development.
Chinese company Huaxin Cement Co Ltd. has started construction of a cement plant in Zafarabad district of Jizzakh region of Uzbekistan.
The plant capacity will be 1.2 million tons of Portland cement per year. In particular, the plant will produce 480,000 tons of M400 Portland cement and 720,000 tons of M500 cement.
The company will export 48,000 tons of M400 cement and 72,000 tons of M500 cement per year.
The total project cost is $150 million. The investor will finance the project through direct investment and borrowed funds.
As part of the investment project implementation, Huaxin Cement Co Ltd. established a foreign subsidiary, Huaxin Cement Jizzakh Limited Liability Company.
It is expected that the new plant will start producing products in February 2020.
Diplomatic relations between Uzbekistan and China were established on January 2, 1992. Among the five Central Asian states, Uzbekistan became the first country with which China established diplomatic relations.
The trade turnover between the two countries totaled $6.43 billion in 2018. Of this amount, $2.87 billion was Uzbekistan’s exports, and $3.56 billion was imports.
Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94
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