Bat Uzbekistan (Investments) Limited and Uzbekistan – Swiss joint venture Samfruit LLC sign an investment contract
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On February 28, Tashkent hosted the 24th Session of the Uzbek-British Trade and Industry Council under the chairmanship of Deputy Prime Minister of the Republic of Uzbekistan Elyor Ganiyev and the Baroness Nicholson of Winterbourne.
An agreement was signed on establishment of a foreign enterprise with participation of the British company BAT Uzbekistan (Investments) Ltd. (BATU (I)) and the Swiss company New Product International, which is currently the main owner of Uzbekistan – Swiss enterprise LLC Samfruit (Samarkand region), specializing in processing and export of dried vegetables, fruits and herbs. In accordance with the signed agreement, BATU (I) will become part of the co-founders of FE Samfruit and intends to invest 11 million USD to expand production capacity in the first stage, in particular, in the purchase of modern high-tech equipment for freeze-drying and air-drying, packaging, for production of export-oriented products.
These investments will increase production capacity of Samfruit FE from 700 to 4,000 tons of dried fruits, vegetables and herbs per year. Upon completion of implementation of the first stage of the investment program, the projected export earnings of FE Samfruit should increase several times. If now the company employs 50 people, then soon 100 permanent and 150 seasonal workers will work here.
This is the first investment project of the BAT Group in the CIS countries, not related to production and sale of tobacco and nicotine-containing products.
UzA
