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Article: Uzavtoprom and South Korea's Erae form two JVs for automotive component production.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- May 12, 2009
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Uzavtoprom and South Korea's Erae form two JVs for automotive component production
TASHKENT. May 12 (Interfax) - Uzbekistan's Uzavtoprom and South Korea's Erae CS Ltd. have formed two joint ventures for the production of automotive components worth a combined $32 million, the chairman of the latter company's executive board, Gairat Niyazov, told journalists.
Korean President Lee Myung-bak signed the founding documentation for the companies' creation last week during a state visit to Uzbekistan.
The first joint venture, UzErae Cable, will specialize in the production of automobile cables. The enterprise's design capacity is put at 130,000 ...