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Uzbekistan intends to spend $4B worth of foreign investments

Business Materials 11 January 2016 12:52 (UTC +04:00)
Uzbekistan plans to spend foreign investments worth $4.042 billion on 154 investment projects in 2016

Tashkent, Uzbekistan, Jan. 11

By Demir Azizov- Trend:

Uzbekistan plans to spend foreign investments worth $4.042 billion on 154 investment projects in 2016, according to an investment program for 2016 approved by the decree of the country's president Islam Karimov.

It is planned to spend $1.339 billion on 60 projects at the expense of foreign loans guaranteed by the government, and $2.703 billion on 85 projects at the expense of foreign direct investments.

The largest volume of foreign investments, $2.798 billion, is planned to be spent on 38 projects of fuel and energy sector, $2.104 billion of which - in the form of direct investments of foreign companies on 14 projects.

In particular, in accordance with the program, in 2016 Lukoil will invest $879 million in the implementation of two PSAs in Uzbekistan worth more than $8 billion.

China Development Bank will allocate $800 million to build a fourth branch of Uzbekistan-China gas pipeline.

South African Sasol and Malaysian Petronas will invest $378 million in the implementation of the project to produce synthetic liquid fuels on the basis of purified methane of the Shurtan Gas Chemical Complex (the GTL process - gas to liquid).

In addition, a consortium of South Korean Daewoo and Hyundai will complete modernization of the Talimarjan thermal power plant with a total cost of $1.28 billion, after spending $248.5 million of foreign investments in 2016.

In 2015, Uzbekistan planned to spend foreign investment worth $3.534 billion on 156 investment projects. According to the government, the volume of foreign investments spent in January-September 2015 increased by 11 percent compared to the same period in 2014 - up to $2.4 billion.

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