According to the press service of the Namangan region administration, the Chinese company China's Raising Sun Technology Co., Ltd. intends to implement an investment project for the production of paints and coatings in the Namangan region of Uzbekistan. The total volume of planned investments under this project will exceed 200 million US dollars, and after reaching full production capacity, the enterprise will create over 500 jobs.
A delegation from China's Raising Sun Technology Co., Ltd., led by the company's head Mao Bu Xie, visited the Namangan region to present a proposal for a large-scale investment project. The Chinese firm plans to build the production base in Namangan in three phases.
In the initial stage, the investor intends to allocate 85 million US dollars and create 500 new jobs, while the total investment is planned to increase to more than 200 million dollars in subsequent stages.
Discussion of Project Details
The Governor of the Namangan region, Shavkatjon Abdurrazzakov, received the Chinese delegation to review the presented proposals and discuss operational matters. It is assumed that a suitable site for the facility will be chosen within the territory of the Chust district of the Namangan Free Economic Zone. Officials noted that the project must comply with all environmental standards, and the parties discussed the next steps for the placement of the facility and the implementation of the project.