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Economy 20/11/2008 Candy Group to invest 10m to its Uzbek venture
Roison-Candy JV
Tashkent, Uzbekistan (UzDaily.com) -- Italy’s Candy Group will invest 10 million euros to production of consumer electronics in Uzbekistan in 2008-2009.

As earlier reported, Roison Electronics of Uzbekistan and Candy Group launched a joint venture, Roison-Candy, in Tashkent on production of consumer electronics. The enterprise was founded on the basis of Algorithm OJSC.

The Uzbek side contributed to the venture with area, while Italian side provided with technical documentation, components, aggregates and press tools.

The venture will produce 1,500 refrigerators and washing machines of two types annually. In future, the capacities will be increased three times.

It is expected that the venture will localize production of consumer electronics.

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