OREANDA-NEWS. August 03, 2012. UzSungwoo, an Uzbek-South Korean joint venture, launched new capacities on production of stamped/welded automobile parts for new car models of General Motors Uzbekistan (GM Uzbekistan). The project cost is US.8 million.

RIA Novosti reported that the preliminary capacities of the venture, which was placed at Ferghana Mechanical Plant, makes up 35,000 sets of products a year.

The joint venture will produce stamped/welded automobile parts for new car models, which will be produced at GM Uzbekistan.

UzSungwoo was founded in April 2011 by UzAvtoSanoat and Sungwoo Hitech Ltd with the charter capital of US million. The project is financed due to own resources of the founders of the venture.