Baku, Azerbaijan, Feb. 5
By Nigar Guliyeva - Trend:
South Korea's POSCO Daewoo Corporation has launched a project to build High Tech City complex in Tashkent.
A relevant agreement was signed last week between the Korean company, the State Committee for Investments and the Tashkent Authority.
The new complex worth $1.4 billion will be located on the territory of about 50 hectares. Business centers, apartment houses, educational, commercial and industrial establishments, research centers and other facilities will be built here. All of them will be built using "smart" technologies, including energy-saving systems and building automation.
Under the terms of the agreement, the parties have launched the first phase of the project that stipulates creation of a joint working group that will coordinate the operational and qualitative implementation of all stages of its implementation, and will also select a site for construction, develop a conceptual plan and a preliminary feasibility study.
Korean specialists have already conducted an analysis of urban planning in Tashkent, identified the main problems, studied similar projects being implemented - the business center of Tashkent City and the "smart" city of Nurafshon.
POSCO DAEWOO is Korea’s largest trading company and a subsidiary of POSCO. The company was founded by Kim Woo-choong in 1967 as Daewoo Industrial Co., Ltd, which ran its business in trading and construction.
The South Korean company previously announced plans to organize the Uzbek-Korean Institute of Technology in Tashkent, as well as launch production of modules for solar panels and the construction of several solar stations.