An investor from China plans to launch a major leather processing project in Uzbekistan, according to Uzcharmsanoat, a trade association focused on the country's leather and footwear industries.
Founder of Uychi Chemicals Han Laiqing met with Uzcharmsanoat officials on April 28 for talks on organisational and practical aspects of the planned investment.
The investor plans to organise full-chain leather production in Tashkent region and arrange the preparation of raw materials.
The initial cost of the project has been estimated at $8mn.
At the meeting, the expansion of production capacities for the production of finished leather and semi-finished leather products and requirements for export were also discussed.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
Eurasian Development Bank redeems €286mn Eurobond
The Eurasian Development Bank (EDB) said on March 26 it had fully redeemed a five-year Eurobond, meeting all obligations to investors at maturity. The bank paid a total of €286mn, covering both ... more
Georgia’s TBC Bank weighs up separate IPO for TBC Uzbekistan digital bank
London-listed TBC Bank Group PLC (LON: TBCG) is weighing up conducting a separate initial public offering (IPO) for its TBC Uzbekistan digital bank business. Reuters on February 24 ... more
IndiGo cancels Central Asian flights until late February over Iran tensions
Indian budget carrier IndiGo has cancelled all flights to and from Tbilisi, Almaty, Baku and Tashkent until February 28 due to the developing situation around Iran, the airline announced on February ... more