The Uzbek-German-Swiss Uzglasseiden joint venture intends to start building a DM 85-6 million fiber glass factory, an Uzbek government source said.
The joint venture, between Oniks of Tashkent, Uzbek…
The Uzbek-German-Swiss Uzglasseiden joint venture intends to start building a DM 85-6 million fiber glass factory, an Uzbek government source said. The joint venture, between Oniks of Tashkent, Uzbekistan, Preiss-Daimler Consulting of Germany and Rovitex of Switzerland, has signed a contract with Germany“s PAB Bautzen to supply and install equipment costing a total of DM 68.3 million. An Uzbek government resolution on the project states that Uzpromstroibank will disburse DM 58.1 million in a foreign bank loan to cover 85% of the costs, and the joint venture“s foreign partners will provide DM 10.2 million. The joint venture will contribute DM 17.3 million for general construction. The factory, to be hosted by Oniks, will produce up to 9,400 tonnes of fiber glass per year and is expected to go on line at the end of 2001. The joint venture will meet all demand for fiber glass by the Hobas-TAPO joint venture, which produces centrifugal non-metallic pipes but which has to import fiber glass in the meantime. Uzglasseiden has charter capital of DM 5.9 million. Oniks will own 50%, Preiss-Daimler Consulting 30% and Rovitex 20%. Oniks is Uzbekistan“s only manufacturer of special types of glass, including crystal with a 24% lead content.