December 16, 2019

An investment agreement was signed in Dushanbe between the Government of Tajikistan, Avesto Group LLC and the Uzbek Artel Engineering group LLC, on the construction and operation of a joint venture "Artel Avesto Electronics" for the production of household appliances.

 The joint venture Artel Avesto Electronics was created on the basis of the Tajik Avesto Group LLC and the Uzbek company Artel Engineering and Management. Both parties in the joint venture will have equal share in new production. According to the commercial plan, the production of household appliances is planned to be launched in two stages. The first stage will be the production of vacuum cleaners and water heater, and the next stage involves the production of televisions and washing machines.

The amount of investments is $ 10 million. With the commissioning of the enterprise, around 170 jobs will be created. This project contributes to promote export and import substitution for 2016-2020. It is planned to export the product to Afghanistan in near future. The products manufactured by the Artel group of companies have entered the Tajikistani market for several years. For this reason, the products manufactured by the company gained great popularity in local markets.

http://kant.kg/2019-12-17/v-dushanbe-nachnut-proizvodit-produkcziyu-uzbekskoj-kompanii-artel/