South Korean construction company, Hwachon Plant Construction is going to build a cement plant in the Republic of Karakalpakstan, in the north-western part of Uzbekistan. The total investments are estimated at $380 million.
Chairman of the Board of Directors of Hwachon Plant Construction, Shin Chol Shchik, discussed the project with the authorities of Karakalpakstan via video call on May 11. The construction will take place in the Karauzyak district of Karakalpakstan. Deputy Chairman of the Council of Ministers of the Republic of Karakalpakstan Bakhizhan Khabibullaev said that local authorities expect the construction works to begin in 2020.
The Uzbek side has not yet disclosed all details of the investment project. Representatives of Hwachon Plant Construction will visit the construction site as soon as the air travel ban (due to COVID-19 pandemic) between Uzbekistan and South Korea is lifted.
Hwachon Plant Construction is headquartered in Seoul and specializes in turnkey industrial facilities construction. In 2017, Hwachon agreed to construct an Uzbek-South Korean joint jewelry manufacturing facility in Karakalpakstan with a total investment of $30 million (50/50 split).
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