Uzbek automaker Uzavtoprom plans to set up a US$50m casting plant in 2012–2015 to produce cylinders and other parts for the US/Uzbek car engine production joint venture GM Powertrain Uzbekistan, a source in the Uzbek government said, according to RIA Novosti.
Of the project’s total investment, Uzavtoprom plans to provide $15m from its own funds and borrow $35m from Uzbek banks.
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The projected annual capacity of the proposed plant is estimated at 25,000 tonnes of casting products.
GM Powertrain Uzbekistan is a joint venture between General Motors and Uzavtoprom, set up under an agreement signed by the two companies in 2008.
