IFC announced financing of up to US$18m for East Can Solutions’ greenfield plant, designed to produce as many as 1.1bn recyclable cans a year.
IFC announced financing of up to US$18m for East Can Solutions to develop Uzbekistan’s first domestic aluminium-can plant. The amount is an announced financing ceiling; the official release does not state that the full facility had already been disbursed.
The greenfield facility is designed for annual capacity of up to 1.1bn cans and is expected to create more than 200 direct jobs. IFC said the domestic metal-packaging market was entirely import-dependent when the project was announced.
The investment creates a new local packaging value chain and an import-substitution case for beverage producers. Its commercial relevance depends on plant delivery, capacity utilisation, input economics and the conversion of customer demand into contracted volumes.
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