“Sino” to be given to investors at a “zero” price

“Sino” refrigerator plant in Samarkand will be handed over to investors. It is stated in the presidential decree.

The company will be given at a “zero” price, provided that the investors pay off debts to creditors and invest in the enterprise’s recovery.

Founded in 1973, the plant has been able to produce 250,000 refrigerators per year under “Pamir”, “Snejinka”, “Samarkand” and “SINO” brands.

In 1991, the company became a shareholder. In 2003, the factory bought a new unit of aggregates and in 2012 Guangzhou Kinte Industrial, China, was involved in manufacturing two new models.

In 2015 it was decided to sell 88.8% of shares to a foreign investor. Last year in August, “Sino” declared bankruptcy.