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29.08.2020

Uzbekistan, South Korea discuss the implementation of the cement plant construction project in Karakalpakstan

Uzbekistan, South Korea discuss the implementation of the cement plant construction project in Karakalpakstan
Virtual talks have been held between the leaderships of the Ministry of Investments and Foreign Trade of the Republic of Karakalpakstan and Korea’s Hwachon Plant Construction.

Specific stages of practical implementation of $380 million worth project for construction of a cement plant in Karauzak district were discussed at the meeting. In particular, the South Korean side has detailed plans for financing the project, providing for a phased attraction of corresponding funds from partner companies.

The South Korean side announced the completion of procedures for registration of funds for transfer to the bank account of FE Qarataw Cement Plant. The Korean partners plan to send specialists to the project site to start exploration work at the quarry and carry out activities for the construction of a cement plant.

Following the meeting, the parties reached an agreement to continue joint work according to the agreed schedule and organize further negotiations via videoconference.

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