Turkish KYM to invest $25 million in cable manufacturing plant in Kuvasay

Turkish company KYM Kablo plans to open an electrical cable production plant in the city of Kuvasay, the Fergana regional administration reported.

Regional governor Khayrullo Bozorov discussed the project with the company’s delegation visiting Uzbekistan. Kuvasay native Hasan Memetoglu, who is part of the group, said the visit aims to help attract Turkish investment to the region.

The project is valued at $25 million. At the first stage, KYM will invest $5 million to launch production of low-voltage cables, with plans to expand into medium-voltage cable manufacturing at a later stage.

The company intends to fully meet domestic demand for electrical cables and establish exports. Bozorov pledged comprehensive support for the initiative and instructed officials to ensure its accelerated implementation in cooperation with the investors.

In early October, Uzeltexsanoat chairman Mirziyod Yunusov informed the president of plans to increase copper production to 250,000 tons, and up to 500,000 tons by 2030. The ongoing conformity assessment reform in the electrical engineering sector will allow Uzbekistan to double its exports of electrical products to European Union markets.

Meanwhile, Chamber of Commerce and Industry chairman Davron Vakhobov noted that the president had approved the introduction of an export duty on copper wire. The initiative, proposed by major copper producers, aims to encourage production of higher value-added goods.