MAJOR INVESTMENT PROJECT IN THE ELEVATOR MANUFACTURING SECTOR DISCUSSED WITH SOUTH KOREA
2026-10-20 16:35:00 / News
MAJOR INVESTMENT PROJECT IN THE ELEVATOR MANUFACTURING SECTOR DISCUSSED WITH SOUTH KOREA
A delegation from Andijan Region held a meeting with representatives of South Korean companies “U&K Global Co., LTD.” and “MODEUN ELEVATOR CO., LTD.”
The meeting focused on establishing a modern elevator manufacturing industry in the region, attracting foreign investment, and organizing the production of high-value-added products.
The main topic of the negotiations was the proposed “Andijan–Korea Elevator Cluster,” with a total project value of US$200 million.
The initiative envisages establishing the production of modern elevators, escalators, and their components.
One of the project’s key priorities is the localization of production processes. In particular, the localization rate is expected to reach at least 70%.
This could create opportunities to manufacture essential components at local enterprises, increase the share of import-substituting products, and strengthen industrial cooperation among local businesses.
The project is significant in terms of advancing Andijan’s machinery and industrial manufacturing sectors, introducing modern technologies and international expertise into local production, and creating new jobs.
The meeting also addressed the project’s production capabilities, investment attraction, and steps toward moving the cooperation into the implementation phase.
The partnership is expected to help expand Andijan Region’s industrial potential and establish a modern elevator manufacturing sector in the region.
Our social media pages: