CHINA (From news reports) -- A Chinese firm, Huanrong Paper, is set to construct a paper manufacturing plant in Uzbekistan's Samarkand region, in a project valued at around $500 million, local authorities have said.

Last week, investors from China visited Samarkand and held talks with the regional governor, Adiz Boboyev, Caliber.Az reports per Uzbek media.

The delegation presented plans for a facility that will produce industrial cardboard, packaging, and office paper.

The project is expected to be implemented in five stages, with the company committing almost $500 million to its development. The plant will require over 50 hectares of land, with a site in the "Khishrau-2" area--part of the Urgut free economic zone--being considered.

Once operational, the factory is anticipated to create around 3,000 jobs and generate $50-60 million annually for Uzbekistan's budget in tax revenues. Huanrong Paper highlighted that the venture will be the first of its scale in Central Asia within the sector.

Governor Boboyev offered full support from regional authorities, including assistance with organisational and infrastructure matters and overall project facilitation.

Chinese companies have been rapidly expanding their presence in Uzbekistan.

In September last year, the country's Minister of Agriculture, Ibrokhim Abdurakhmonov, held discussions with Chinese investors, resulting in agreements for initiatives worth over $550 million, including a joint innovation centre and a large-scale tobacco factory.