South Korean company to participate in $1.4B project in Tashkent

Business Materials 12 March 2018 11:18 (UTC +04:00)

Baku, Azerbaijan, March 12

By Fikret Dolukhanov – Trend:

The $1.4 billion worth hi-tech district of Tashkent, the Uzbek capital, will be implemented with participation of South Korean POSCO Daewoo, the Uzbek media outlet Gazeta.uz reported.

The agreement on the project was signed between the Uzbek State Committee on Investments and the South Korean company during the official visit of President Shavkat Mirziyoyev to South Korea in 2017.

According to the information, the district is designed to create favorable conditions for implementation of advanced information-communication technologies. It will be located next to the Tashkent IT Institute and will include areas of the Uzexpocenter and the International Business Center, where the International Hotel and the capital’s tallest building, the National Bank of Uzbekistan, are situated.

The project will be managed by the Directorate on Exploitation and Construction of New Objects, established under the Uzbek IT and Communications Development Ministry. The Directorate will select investors, hold negotiations, sign investment agreements and supervise implementation of the projects.