Business Announcement and Updates
JV "Hayat Power Cable Systems" LLC to expand production capacities
Hayat Power Cable Systems will realize the second stage of investment project on production of ready export-oriented products based on deep processing of raw copper.
The Government of Uzbekistan issued a resolution “On additional measures on increasing production of ready export-oriented products based on deep processing raw copper at Hayat Power Cable Systems.
The second phase envisages expansion of the venture on deep processing copper from 3,000 to 10,000 tonnes a year via introduction of modern equipment. The enterprise will master production of 35 new types of cable and wire products.
The enterprise will increase annual volume of production up to US$65 million. At the same time, the enterprise will export 65% of its products.
The resolution said that Almalyk Mining and Metallurgy Combine will increase its stake in the venture from 25% to 50%. China’s Gulf Cable Trading Company will cut its share in the venture up to 25%.
The founders of the joint venture are Gulf Cable Trading Company, Almalyk Mining and Metallurgy Combine and Uzkabel. Hayat Power Cable Systems operates at Navoi free industrial and economic zone. It specializes on production of electric cables and wires.