May 16, 2017 / 7:21 AM / 2 months ago

BRIEF-Carmaker PSA strikes deal with SC Uzavtosanoat to produce vehicles in Uzbekistan

1 Min Read

May 16 (Reuters) - PSA:

* SC Uzavtosanoat and Groupe PSA sign a joint venture agreement to produce light commercial vehicles in Uzbekistan

* New plant in industrial zone of Jizzakh in Uzbekistan

* Exclusive license to produce light commercial vehicles in Uzbekistan with a production capacity up to 16,000 vehicles per year for local and export markets from 2019

* Project based on Groupe PSA platform and technologies, and on SC Uzavtosanoat supplier network

* Global investments represent around 130 million euros ($143.30 million).

* "We appreciate the established constructive dialogue with the Uzbek teams and personal support of the President of Uzbekistan Shavkat Mirziyoev, which was a determining factor in the creation of the joint venture," Christophe Bergerand, Eurasia Vice-President for Groupe PSA, said in a statement

Further company coverage: ($1 = 0.9072 euros) (Reporting by Sudip Kar-Gupta)

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