GM Uzbekistan, the joint venture between General Motors Uzavtoprom, is expected to invest US$136m to assemble a “business sedan” sometime between 2011 and 2013, a source in the Uzbek government told the Prime-Tass news agency.
Uzavtoprom is expected to fully finance the project with its own funds, the source said.
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A feasibility study has already been carried out and is expected to be approved in the first half of next year with construction expected to start in the third quarter.
Preliminary production capacity is said to be 100,000 vehicles a year, of which around 50,000 will be exported.
GM holds a 25% share in the joint venture and Uzavtoprom the remaining 75%. GM Uzbekistan currently produces Chevrolet Spark, Nexia, Matiz, Lacetti, Epica and Captiva models, as well as Damas minivans.
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