The President of Uzbekistan supports plans to expand Indorama Corporation’s activities in the country
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President of the Republic of Uzbekistan Shavkat Mirziyoyev received a delegation from Singapore’s Indorama Corporation, led by its Founder and Chairman Sri Prakash Lohia.
Issues of further developing mutually beneficial cooperation with the leading Singapore company, which is a significant investor and an essential technological partner in the development of the chemical, textile, and agricultural sectors of the economy of Uzbekistan, were considered.
It should be noted that in Uzbekistan, Indorama Corporation has implemented large investment projects to grow and deeply process cotton fiber. The Kokand Superphosphate Plant is being modernized.
The President of Uzbekistan supported the plans of the Singaporean investor to implement new projects in the country, including projects to expand the capacity of Ferganaazot, privatize industry enterprises, and organize modern production facilities in the textile and agricultural sectors.
As a result of the implementation of these projects, the total volume of direct investments of the company in Uzbekistan will increase from the current $600 million to $850 million.
The importance of adopting a joint action plan to promote priority investment cooperation projects was noted.