Russian company Nikol-Pak invests 450 billion soums in the development of the paper industry in Uzbekistan

Nicole-Pak (Russia) has completed the implementation of the first stage of an investment project at the production of Angren Pack in Uzbekistan. 

The final step in the program was the launch of paper-making equipment with a capacity of 80 thousand tons of finished products per year. For 3.5 years, 450 billion soums (US$42 million) were allocated to restore the production of paper products, buildings, structures and equipment.

“In June 2018, we bought out a controlling stake in Angren Pack. At the time of the transaction, production was actually stopped. No products were produced, the assets were in disrepair. The enterprise was in the process of liquidation. Part of the property was arrested, and the other has already been sold, the dismantling of buildings has begun,” said Sergei Kolesnikov, co-owner of Nikol-Pak. “Since the Uzbek market has a high potential for the development of the paper industry and the rapid development of the Asian market opens up great export opportunities, it was decided to maintain and develop the production site for the sustainable development of the company in Central Asia.

During this time, 60 thousand square meters of buildings were restored and reconstructed, its own gas, energy and water supply has been established, modern treatment facilities and technological equipment have been installed. Thanks to the modernization and the launch of new equipment, the volume of production of fluting corrugating paper and liner board has increased by 60%. In addition, the implementation of the project made it possible to increase the export share of Uzbekistan in high-quality paper products. The plant’s products are currently supplied to Kazakhstan, Pakistan, Kyrgyzstan, Azerbaijan.

Now the plant has started to implement the second stage of an investment project aimed at developing satellite products. In addition, the plans for the next 5 years are to increase the output of Fluting and Liner up to 150 thousand tons of finished products per year, as well as the production of corrugated packaging by more than 10 times – up to 150 million square meters. m.

In October 2021, Nicole-Pak completed the purchase of shares, increasing its stake to 99.97%.

 

https://www.uzdaily.uz/en/post/69209