TASHKENT (TCA) — A new joint Uzbek-Singaporean enterprise, Indorama Kokand Fertilizers, is being created in Uzbekistan. The new plant will cost more than $80 million and will produce mineral fertilizers, Uzbekistan Today news agency reports.
The enterprise is being created in the city of Kokand on the basis of JSC Kokand Superphosphate Plant.
The share of the foreign investor in the project — Singapore’s Indorama — will be 75 percent. The new facility will produce fertilizers with the use of the latest technologies.
Along with the modernization and introduction of new technologies into existing production, the project also provides for the organization of production of new mineral fertilizers such as dicalcium phosphate, potassium sulphate and potassium nitrate.
The project will be implemented in several phases within five years.
It was earlier reported that a new facility to produce a valuable fertilizer, potassium sulfate, was to be completed with Chinese participation by the end of 2016 at Uzbekistan’s Navoi Electrochemical Plant.
China’s Jiangsu Right Machinery Group is a foreign partner in the project.
The project was estimated to cost US $10 million, including $1 million of the plant’s own funds, $4 million in loans from local commercial banks, and $5 million of foreign investments and loans.
The new facility was expected to produce 20 thousand tons of potassium sulfate per year, which is used in agriculture as a valuable chlorine-free fertilizer.