German Glasseiden GmbH and Uzbek Oniks are to set up Uzglasseiden, a fibreglass producing joint venture, said a manager at Oniks (a subdivision of the Uzeltekhprom association).
The Uzbek government …
German Glasseiden GmbH and Uzbek Oniks are to set up Uzglasseiden, a fibreglass producing joint venture, said a manager at Oniks (a subdivision of the Uzeltekhprom association). The Uzbek government confirmed a feasibility study for the project recently, which had been prepared by the German company (a Preiss-Diamler subsidiary). The project will cost a total of DM 85.625 million and the joint venture will be split among the partners as follows: German – 51%; Uzbek – 49%. The project will be financed by the founders and by credits from German banks. It is expected that equipment for the plant will cost DM 58.06 million (47.4% of the total cost of the project). According to the feasibility study, the plant will produce 8,600 tonnes of fibreglass per annum. It is planned to export about half of the fibreglass produced. The main customer for fibreglass on the domestic market will be Uzbek-Swiss-German joint venture Khobas-TAPO, which specializes in the production of centrifugal non-metallic pipes.