23.12.2009

     Sino open joint-stock company of Samarkand launched production of refrigerators jointly with South Korean company LG Electronics.

     The total cost of the project, implemented in accordance with the President's resolution of 28 October 2008 on the Investment Program of Uzbekistan for 2010, makes up $9.8 million.

     LG Electronics has provided the Sino plant with the modern assembly line. The project should satisfy the demand of the population in high-quality home appliances and increase the export potential of the country.

     The representatives of various ministries and departments, industrial enterprises, foreign partners and the media participated in the presentation of the project held at Sino, UzA reported.

     They said the results of the wide-scale work held under the leadership of the President Islam Karimov to modernize the production in the country were very successful.

     "The bilateral cooperation between Uzbekistan and South Korea has been developing steadily," head of the LG Electronics office in Uzbekistan Choi De Ho said. "Opening of the refrigerators production in Samarkand is one of the results of this partnership."

     The project will be implemented in two stages. On the first stage, 50,000 LG refrigerators should be produced at Sino until the end of 2010.

     On the second stage, production of new refrigerators and freezers should be launched from 2011 after the modernization of the industrial base of Sino. Production is set to double on this stage.

     The hokim (head of administration) of Samarkand region Uktam Barnoyev participated in the presentation.