Uzbekistan to invest US$48m to UzDaewoo AutoState-owned Uzavtoprom, enterprise which unites companies of car industry of Uzbekistan, will invest US$48 million to production of Chevrolet Lacetti at the UzDaewoo Auto, the resolution of the Uzbek government said.
The document said UzDaewoo Auto will receive US$48 million loan from Uzavtoprom to expand production of Lacetti sedans in 2008. The interest-free loan issued to six years, the resolution said.
Currently, the Uzbek carmaker produces Lacetti in small amounts. In future, the plant will produce 30,000 Lacetti cars. The plant will export 5,000 Lacetti. UzDaewoo Auto now produces Matiz, Nexia and Damas cars.
UzDaewoo Auto, located in Asaka city of Andijan region, was launched in 1996 with the participation of South Korean Daewoo Motors and the Government of Uzbekistan. The capacity of the plant is 200,000 cars per year. After bankruptcy of Daewoo Motors, General Motors of the USA created GM Daewoo Auto & Technology (GMDAT) on the base of the South Korean firm.
The government of Uzbekistan took over control over UzDaewoo Auto in 2005 for undisclosed sum. In October 2007, GM and Uzavtoprom announced that they are creating the joint venture GM Uzbekistan on the base of the Uzbek plant. The new venture will produce 250,000 cars per annum.
GM Uzbekistan will produce Chevrolet Epica, Chevrolet Captiva and Chevrolet Tacuma and modernize current models of UzDaewoo Auto and include them to Chevrolet brand.
The Uzbek carmaker produced 140,080 cars in 2006, of which 82,500 were exported. This year, the plant plans to manufacture 170,000 cars and direct 112,000 to export.
22 November 2007 00:01