President of Kyrgyzstan Sadyr Japarov signed a decree on the restoration and development of Mailuu-Suu Electric Bulb Plant OJSC.
At least 931.6 million soms will be allocated from the Stabilization Fund for the plant’s modernization.
The document aims to improve the plant’s financial and economic situation and launch new production facilities. The Cabinet of Ministers has been instructed to consider removing the plant from the list of strategic facilities and to create an industrial park on its premises.
According to the decree, the plant will become the industrial park’s management company, with production functions and assets transferred to a subsidiary. The property will also be transferred to the subsidiary for temporary use for a period of 20 years.
Part of the funds will be used to pay off debts to banks, the Social Fund, energy, and utility companies. The bulk of the investment will be used for production expansion. Specifically:
- 377.6 million soms for the purchase of automated production lines for SMD lamps,
- 276 million soms for the development of glass production and waste recycling.
State and municipal enterprises are also recommended to purchase the plant’s products through direct contracts, and relevant authorities are advised to tighten controls over the import of energy-saving lamps.
The decree will take effect in 10 days.
