TechnoNicol to invest 1.3 bln rubles in construction of plant in Uzbekistan

ROSTOV-ON-DON. Oct 18 (Interfax) - TechnoNicol, a Russian building materials manufacturer, plans to invest 1.3 billion rubles in the construction of a plant in Angren, Uzbekistan to produce extruded polystyrene (XPS) thermal insulation, the company said.

The company plans to begin the active phase of construction in January and open the plant in the third quarter of 2024. The plant will have capacity to make 300,000 cubic meters of finished product per year.

"The launch of new capacity will make it possible to increase the affordability of the product on the country's market, as well as arrange exports to neighboring countries Tajikistan and Kyrgyzstan, where there is also great potential for the development of the construction industry," TechnoNicol co-owner and managing partner Sergei Kolesnikov was quoted as saying in the release.

The project also includes the construction of a warehouse to store product inventory and paving an area of about 1.5 hectares.

The plant will produce a complete assortment of XPS panels with thickness of 20 mm to 120 mm for insulating foundations, underground structures, floors, facades and roofing.

The company said Uzbekistan has one of the fastest growing construction sectors in the CIS. "Just in the past seven years the amount of construction has more than quadrupled from 30 trillion to 131 trillion Uzbek sum, and reached 68 trillion sum in the first half of this year. The rapid pace of construction is stimulating the development of the construction materials market. Real production growth amounted to 5% last year alone," TechnoNicol said.

TechnoNicol, which was founded in 1992, manufactures roofing, waterproofing and insulation materials.

The official exchange rate was UZS12,201/$1 on October 17.