Bishkek, Feb. 15, 2022 . / Kabar / . As part of his working trip to Chui Oblast, Kyrgyz president Sadyr Zhaparov visited Asia Steel LLC enterprise, which specializes in the production of valves, his press service reported.
The president was informed about the activities of industrial enterprise launched in February this year with the support of the Russian-Kyrgyz Development Fund (RKDF).
The joint venture Asia Steel LLC was established with participation of Kyrgyz entrepreneurs and the Indian company Doshi Technologies Pvt. Ltd, and the modernization and retrofitting of the plant began with the support of RKDF.
The launch of the steelmaking shop eliminated the company's dependence on imported raw materials and significantly reduced the cost of fittings. The plant was built in compliance with all the requirements and sanitary and environmental standards.
At the second stage of modernization, foreign investor Doshi Technologies Pvt. Ltd will build and launch an arc-furnace-based steelmaking plant with a monthly output of up to 15,000 tons of billets. Completion of the large steelmaking plant is scheduled for 2023.
At the first stage, the launch of this plant will cover up to 10% of Kyrgyzstan's demand for valves through local production. And at the second stage of the project, it will be possible to cover up to 60% of the country's demand for valves through local production.
Here at the plant, Chairman of the RKDF Board Artem Novikov informed about the results of the Fund's activities in 2021. According to him, the Fund has financed 333 projects worth $44.2 million over the past year in manufacturing, agribusiness, communications and IT, transport and logistics, tourism and other sectors.
Sadyr Zhaparov instructed the state authorities to continue to ensure an uninterrupted supply of electricity to ensure the stable operation of such enterprises.
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