Abu Dhabi to invest in infrastructure modernization of Uzbekistan’s Samarkand

Business Materials 21 September 2020 11:53 (UTC +04:00)
Abu Dhabi to invest in infrastructure modernization of Uzbekistan’s Samarkand

BAKU, Azerbaijan, Sept. 21

By Klavdiya Romakayeva - Trend:

A joint Uzbek-Emirates investment company with a registered capital of $1 billion began its operational activities, Trend reports with reference to Dunyo information agency.

Deputy Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov and the Minister of Energy and Infrastructure of the United Arab Emirates Suhail Mohammed Faraj Al Mazroui discussed a wide range of issues of trade, economic, and investment cooperation between the two countries, as well as practical aspects of interaction in key areas of strategic partnership and the implementation of joint projects.

A joint Uzbek-Emirati investment company with a charter capital of $1 billion began its operational activities. The procedure on agreements within the framework of Mubadala Investment Company's participation in the privatization of the Talimarjan TPP in Uzbekistan is being completed.

The allocation of $300 million by the Abu Dhabi Development Fund for modernization of the infrastructure of Samarkand, as well as financing the construction of a 4-star hotel and a shopping center in this city has been approved

Significant progress has been made in cooperation with Masdar Clean Energy (a leading developer and operator of utility-scale renewable energy projects, community grid projects, and energy services consultancy).

In January 2020, the main legal agreements were signed on the project for the construction of a 500 MW wind farm in the Navoi region.

Preparations for construction have also been completed as part of a project to build a 100 MW solar power plant in the same region. Masdar won a tender for the construction of this power plant in October 2019, and in November an investment agreement and an agreement on the purchase of electricity were signed with the Emirati partners.

Parties also discussed the possibilities for expanding investment cooperation and industrial cooperation by jointly working out new investment projects in the fields of petrochemicals, energy, agriculture, infrastructure, telecommunications, healthcare, tourism, and the financial sector.

Also, the parties agreed to establish active cooperation in the field of healthcare, to attract advanced Emirati experience and technologies in this area, as well as the implementation of joint measures aimed at countering the spread of coronavirus infection and protecting public health.


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