A Chinese company will invest more than $200 million in Namangan.

A Chinese company will invest more than $200 million in Namangan.

The Chinese company Raising Sun Technology Co., Ltd. intends to implement an investment project in the Namangan region for the production of paint and varnish materials. The total volume of investment in the project is planned to be brought to more than $200 million, and after the enterprise reaches its full capacity, over 500 jobs will be created. This was reported by the Information Service of the Khokimiyat of the Namangan region.

A delegation from Raising Sun Technology Co., Ltd., led by the company's head Mao Bu Xie, visited the Namangan region and presented a proposal to launch a major investment project.

The company plans to build an enterprise for the production of paint and varnish materials in Namangan. The project is expected to be implemented in three stages. In the first stage, the Chinese investor intends to invest $85 million and create 500 new jobs.

In the future, the total volume of investment in the project is planned to be increased to more than $200 million.

The Khokim of the Namangan region, Shavkatzhon Abdurazzokov, received the Chinese delegation and familiarized himself with the presented proposals.

During the meeting, the parties discussed the implementation of the new production project. To locate the enterprise, it is planned to consider a suitable site in the Chust district, which is part of the Namangan Free Economic Zone.

As noted, compliance with environmental requirements is expected to be ensured during the implementation of the project.

After the enterprise reaches its full production capacity, more than 500 new jobs are planned to be created at the new production facility.

Following the meeting, the parties reviewed the next steps for locating the enterprise and implementing the investment project in the Namangan region.