Khorezm Shakar completes third stage of modernization
12/12/2013 14:46
Khorezm Shakar completes third stage of modernization
12/12/2013 14:46
Tashkent, Uzbekistan (UzDaily.com) -- Khorezm Shakar, a joint venture on production of sugar in Khorezm region, is carrying out third stage of modernization.
The third stage of modernization of the plant is carried out in line with the presidential decree “On measures on further improving organization of management and development of food industry of Uzbekistan for 2012-2015” from 31 October 2011.
According to the newspaper “Pravda Vostoka”, the plant will increase its capacity to 390,000 tonnes in 2015. But, the plant can reach its design capacity earlier.
The venture will produce 350,000 tonnes of sugar, not 320,000 tonnes as earlier planned. So, the enterprise can reach its designed capacity next year, the paper said.
Khorezm Shakar JV OJSC is largest sugar producer in Uzbekistan. Khorezm Sugar Plant was commissioned in 1998. The cost of the plant is US$83.25 million. Preliminary plant was designed for processing sugar-beet, which was planned to plant in Uzbekistan. The capacity of the plant was 3,000 tonnes of sugar-beet a day. But low crop pushed to conserve the plant.
Shakar Investment, an Uzbek-Austrian-US joint venture, carried out project on transfer of the capacity to processing of cane sugar with the cost of US$2 million in 2002. Currently, the plant can process 1,000 tonnes of cane sugar a day.
The first stage of the modernization helped to increase the capacity of the plant up to 200,000 tonnes of sugar and transferred capacities on processing from sugar-beet to sugar cane.
The second stage of the modernization was directed at raising capacities of the venture as there was high demand from confectionary industry. In 2010, annual production reached 286,000 tonnes of sugar.
According to the specialists of the venture, demand of Uzbekistan in sugar exceeds 600,000 tonnes a year. The investors of the Khorezm Shakar are constructing new sugar plant at Angren special industrial zone. The plant will be commissioned in 2014.
The volume of investments to the construction of the plant will be US$108.45 million. Launch of the plant will help Uzbekistan to produce 700,000 tonnes of sugar a year.
Shareholders of Khorezm Shakar are Motril Investments (Panama, 69.43%), KITO Investments (Singapore, 20%), and SEID Handels GmbH (Austria, 10%).
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