RCC.ru reported quoting Prime that the contract was signed on desining and supplying equipment on “turn-key” bases for construction of the plant with the capacity of 1.5 million automobile tyres, 200,000 of tyres for agriculture equipment and 100,000 meters of conveyer belt for harvesting equipment a year.

New enterprise will be placed at premises of liquidated Rezinotekhnika OJSC. The project will be implemented within four years. The contract sum was not disclosed. Divisions of Uzkimyosanoat will execute construction works.

The project cost is US$155 million. It is expected that Chinese Eximbank will allocate loan for US$65 million, credit of Fund for Reconstruction and Development of Uzbekistan – US$60 million and own funds of Uzkimyosanoat – US$30 million.

Uzbekistan has no type production capacities and it fully imports tyres from the CIS states and China. The construction of new plant will satisfy demand of GM Uzbekistan and Samarkand Automobile Plant.