MAJOR UZBEK-SOUTH KOREAN VENTURE INAUGURATED.

Publication: Monitor Volume: 2 Issue: 142

Uzbek president Islam Karimov and South Korean "prime minister for political affairs" Kim Tok Leng inaugurated on July 19 the commissioning of the UzDaewoo automobile plant in Asaka, Andijan region, Uzbekistan. A parity joint venture built in less than two years at a cost of $650 million, the plant is scheduled to produce 30,000 cars this year and by the year 2002 to manufacture a full capacity of 200,000 cars annually.

The output will be vans, and small and medium-sized automobiles. Each partner will market a half of the output throughout Central Asia. Uzbek citizens will be entitled to special credit facilities for buying the cars.

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