“Angren Shakar” has attracted USD 53.5 million for the construction of a sugar plant in Uzbekistan

As informed by the “Pischeprom” Association, a foreign enterprise “Angren Shakar LLC” has attracted a loan of USD 53.5 million for the construction of a sugar plant in the Tashkent Region. The loan is provided by Oriental Singapore Capital under the guarantees of the company’s foreign founders. “Angren Shakar” was founded in 2012 by Singaporean companies Welton International and Kito Investment and an Austrian SЕID Handelsgesellschaft m.b.H. The venture intends to construct a sugar plant in the territory of the SIZ “Angren”. The project totaling USD 108.5 million shall establish facilities with the capacity of one thousand ton of cane sugar per day.

The project term is two years. Besides the provided loan, the construction will be financed by the direct investments of the “Angren Shakar” founders. The Singaporean Welton International and Kito Investment and the Austrian SЕID Handelsgesellschaft m.b.H are the shareholders of the country’s monopoly sugar production plant – a foreign enterprise “Khorezm Shakar LLC” located in the north-west of the republic. Currently the projected capacity of the technological line is 1 thousand ton of cane sugar per day. According to the official statistics, the annual consumption of sugar in the country is about 700 thousand tons with the 350 thousand tons being purchased in the world market. In 2012 “Khorezm Shakar” increased its sugar production by 0.1% in comparison with 2011 and produced 323.1 thousand tons.