The Swiss Tanotrade AG will build a plant for manufacture of electrical products - NukusElectroApparat in Nukus. The total cost of the project, due to be completed in the end of August this year, is $ 8 million. The Swiss company will invest about 80% and the local partner, ToshElectroApparat - 20%.
In September, it is expected to launch the production of modern energy-saving equipment with further expanding of the range of products and localize the production of part of the components.
The President of Uzbekistan provided the company with a wide range of customs benefits. In particular, the company will be exempted from payment of customs duties for building materials required for the construction. In addition, NukusElectroApparat will be exempted until 2024 from customs duties for equipment, raw materials, materials and components imported.