OREANDA-NEWS. January 13, 2010. Uzbekistan's Cabinet of Ministers approved a complex program on development of industrial potential of Kokand city (Ferghana region, southeast of Uzbekistan) with the value of 242.8 billion soums.

The Government's Resolution on "Action plan on development of industrial potential of Kokand city, modernization projects and the localization of production for 2010-2012 years" was published in the local press, Trend Capital reported.

According to the document, it is planned to implement 40 investment projects in the chemical, automotive, oil and gas, electrical, light, food and construction fields in Kokand in the next three years.

The major projects, included in the address program of construction, are the construction of a large textile enterprise with the value of 123.2 billion soums and plant for the production of industrial plastics worth 40 billion soums.

Uzbeklegprom state stock company will realize eight projects with the total value of 139.27 billion soums, Uzkhimprom - four projects valued at 71.61 billion soums, Uzbekneftegaz - two projects valued at 12.82 billion soums, Uzavtoprom - two projects on localization of production of cars in the GM Uzbekistan JV worth 9.3 billion soums in 2010-2012.

In addition to these projects, address program of construction projects includes a project on development of the construction, footwear and food industries.

It is indented to finance the program at the funds of companies, which are responsible for the implementation of projects worth 152.57 billion soums, and bank loans worth USD 90.18 billion soums.

The Government has taken this decision in order to further develop the industrial potential of Kokand through creating new industries, upgrade and re-equip the existing industrial enterprises, deepen the localization of producing competitive products, as well as improving employment and income on this basis, said the document.

More than 4,000 new jobs will be established in the city as a result of implementing projects intended by the program.

The development of labour-abundant regions, including the Ferghana Valley, is a priority for the country's leadership.

The Cabinet of Ministers approved a program of industrial development and modernization of production of Namangan region for 2009-2012, worth about 600 billion soums, envisaging expansion of existing and new facilities for the production of non-food goods, actions on the technical modernization and the financial improvement of perspective industrial enterprises in order to create new jobs and increase industrial production in August of 2009.