Concrete Canvas Ltd., a UK-based company, has announced plans to invest $15 million in a new factory in Kyrgyzstan to manufacture their patented concrete canvas material. The factory, which will be the second of its kind in the world, is expected to produce 5 million square meters of concrete canvas per year, with 60% of the product being exported.
The company is seeking tax incentives from the Kyrgyz government in exchange for the investment, including exemptions from taxes on products purchased by the state, VAT, and duties on equipment for the factory.
Concrete Canvas Ltd. co-founder Peter Brewin spoke about the investment at the MINEX Central Asia mining and geological forum in Bishkek, stating that the factory will be built in the Osh region and is expected to be operational within two years.
Concrete canvas is a flexible composite concrete material used in irrigation and hydraulic structures, as well as in the mining industry. The company believes that the new factory will help to meet the growing demand for this innovative material in both domestic and international markets.
