Russia’s Tatneft may receive Uzbekistan tire plant in trust

TASHKENT, Apr 26 (PRIME) -- Uzbekistans plan to transfer the country’s only tire-producing plant located in the Angren special economic zone in trust management of Russian oil company Tatneft, the government said in a ruling published on Friday.

The ruling defines an array of measures for ensuring that the plant meets its production plans and raises competiveness of its products. Besides trust management, Tatneft may also partake in expansion of capacities and of the assortment of goods produced by the plant, the ruling read.

Uzbek state chemical industry holding Uzkimyosanoat finished construction of the U.S. $200 million plant in August 2018. The plant’s capacities amount to 3 million car tires, 200,000 tires for agricultural machines, and 100,000 meters of conveyor belts per year. China’s Poly Technologies and Linglong acted as general contractors. The plant was to sell their products to car producer GM Uzbekistan.

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