25.06.2009

     Tashkent, Uzbekistan (UzDaily.com) -- Shindong Enercom Inc (South Korea) plans to invest US$46.5 million into Uzbekistan in 2009, 12.uz reported quoting president of the company Kim Young-sik [transliterated].
He said that the decision of Shindong Enercom to invest Uzbekistan was adopted due to favourable investment climate and high economic development of the country.

     Shindong Enercom Inc president said the company plans to increase trade turnover to US$52 million, which is twice higher than in 2008. He said turnover of the company was US$20 million.

     Shindong Enercom Inc was founded in 1980 and it entered into Uzbekistan in 1991. The company participates in textile, construction, energy, agriculture, mining sectors of Uzbekistan. Shindong Enercom in cooperation with South Korean consortium purchased 47% of Dorreftrans, largest railway refrigerator operator, with the cost of US$17.5 million.

     Uz-Shindong Silicon, an Uzbek-Korean joint venture, was founded in 2008. The venture explores quartz and quartzite deposits in Jizzakh regions of Uzbekistan.