The project with the cost of US$108.5 million will be implemented in cooperation with Singapore’s and Welton International Enterprises Pte. Ltd. and Kito Investment Pte. Ltd., as well as Austrian SЕID Handelsgesellschaft m.b.H.

Investors will create foreign enterprise Angren Shakar with the charter capital of US$20 million, which will be formed due to resources of founders, re-investment of income, received from current activities in Uzbekistan.

The founders will provide US$55 million as fees for the charter capital and direct loans to implement the project. Singaporean Oriental Singapore Capital Pte. Ltd. will also issue US$53.45 million of loan under guarantee of the founders.

The government of Uzbekistan also provided tax and customs breaks till 1 July 2013. The company will be exempted from payment of income tax, property tax, and other payments for seven years.

Khorezm Shakar JV OJSC is an only 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.

Shareholders of the company are Motril Investments (Panama, 69.43%), KITO Investments (Singapore, 20%), SEID Handels GmbH (Austria, 10%) and employees (0.57%).