Uzbekistan's basalt industry attracts $498mn investment

By Tawney Kruger in Tashkent April 12, 2024

Uzbekistan’s basalt industry has attracted an investment of $498mn. The focus on basalt stone mining and fibre production, particularly in the Forish district of Jizzakh region, has become a driving force behind industrial growth.

Historically dominated by cattle farming, the Forish district transformed in 2017 with the introduction of basalt stone mining and fibre production.

Six projects were established across 300 hectares, supported by advanced technologies from Germany, France, Italy and the Czech Republic.

Annual production within the basalt cluster has reached 177,000 tonnes of basalt stone, resulting in the creation of 42 varieties of products.

In 2023, the region produced 45,000 tonnes of goods valued at UZS 554bn ($44mn), with 80% exported to countries such as the US, UK, Italy, and Russia.

Local producer, Basfiber Trade, aims to boost its production capacity to 25,000 tonnes of basalt fibre and fabric annually, with a $145mn investment in cutting-edge equipment.

Uzbekistan’s government plans to identify 20 new high-value-added projects in the basalt industry, collectively valued at $500mn. These projects are expected to create 2,000 additional jobs.

Basalt-based construction materials, known for their rust resistance, lightweight durability, and environmental resilience, have garnered significant attention in Uzbekistan’s industrial sector. The government says that efforts are under way to foster collaboration with domestic and international businesses, streamline quality certification processes and expand market access.

#Commodities #ConstructionMaterials #UzInvest #UzInvest #uzbekistan #basalt #infrastructure #construction

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