Chinese manufacturer and builder Poly Technologies Inc. recently held the groundbreaking ceremony for a rubber plant that the firm has been contracted to build in an Uzbek industrial zone.
Following six years of negotiation and planning, Poly will provide Uzbekistan with a turnkey production facility
Poly Technologies signed a nearly US$184 million engineering, procurement and construction (EPC) agreement with Uzbekistan National Chemical and confirmed a turnkey construction project to produce 3 million semi steel radial automotive tires, 200,000 bias agricultural tires and 100,000 linear meters of conveyor belt annually in the first phase of the project.
The Uzbekistan rubber plant project is regarded by Uzbek government as a national strategic development project and the construction of the facility is being treated as a high priority project under highly favorable terms. Completion of the production facility is expected to greatly improve Uzbekistan’s self-sufficiency in providing tires to its automotive factories and after-sale service markets while furthering the advancement of industrial cooperation between China and Uzbekistan, a level of cooperation which will be of great significance to developing Uzbekistan’s economy and drive local social development.
Sino-Uzbek cooperation becomes the focus of attentions part of China’s efforts to implement the One Belt, One Road initiative
The rubber production facility is also one of the key projects implemented as part of the cooperation agreement signed between China and Uzbekistan during the official visit of Chinese President Xi Jinping to the country. Uzbekistan is located at the heart of the coverage area of the One Belt, One Road initiative and has strategic importance from both geographical and political perspectives.