OREANDA-NEWS. November 23, 2011. Uz-Kor Silicon, an Uzbek-South Korean joint venture, is planning to produce 6,000 tonnes of commercial silicon with the cost of US.288 million in 2012.

This was announced at the programme on localization of production of ready products, spare parts and materials based on industrial cooperation for 2011-2013, which was approved by the President of Uzbekistan Islam Karimov.

In line with the programme, Uz-Kor Silicon JV will increase production of commercial silicon up to 9,000 tonnes in 2013. The cost will make up US.932 million.

Uz-Kor Silicon JV is planning to launch production of commercial silicon in Navoi region by the end of 2011.

The company plans to build concentrating plant to receive commercial silicon. The plant’s capacity makes up 12,000 tonnes a year. The project cost is US million.

The construction of the plant is the first stage of implementation of the project on production of polycrystalline silicon with the total cost of about US0 million.

In the second stage (2012-2016), the venture is planning to construct a plant on production of polycrystalline silicon with the capacity of 5,000 tonnes a year.

The project will be financed due to resources of the venture founders, loan of Fund for Reconstruction and Development of Uzbekistan, as well as foreign loans.

State Committee on geology and mineral resources of Uzbekistan and NeoPlant created Uz-Kor Silicon JV in September 2008. Each side holds 50% stake in the venture. The charter capital of the venture is US.4 million. Later, Uzkimyosanoat acquired 25% stake in the venture due to share of the Uzbek side.