The new joint venture will be organized on the basis of the «Ferganaazot» enterprise, it will be engaged in the production of melamine formaldehyde.
In the next few days, it is planned to sign a memorandum with the Singapore side within this project. Its total cost will exceed $125 million, annually about 30 thousand tons of products will be produced here, 100% of which will be exported.
The project will be implemented in stages, after the signing of the Memorandum, the parties will start developing the project documentation. The Singapore company intends to receive the first products on the new production site as early as 2019.
Recall that at the end of last year, the State Committee on Competition of Uzbekistan and Indorama signed an agreement on the creation of another joint venture - Indorama Kokand Fertilizers. It is created on the basis of the Kokand superphosphate plant, and will produce mineral fertilizers using the most modern technologies.
Along with the modernization of existing facilities, the project provides for the organization of production of new, not previously produced in the Republic of types of mineral fertilizers, such as dicalcium phosphate, potassium sulfate and potassium nitrate. The share of the foreign investor in the new joint venture was 75% with obligations for investment of more than $80 million.