Uzbekistan, S.Korea in talks over developing metal ore deposit in Uzbekistan’s Navoi

Business Materials 20 October 2020 12:18 (UTC +04:00)
Uzbekistan, S.Korea in talks over developing metal ore deposit in Uzbekistan’s Navoi

BAKU, Azerbaijan, Oct. 20

By Klavdiya Romakayeva - Trend:

Uzbekistan and South Korea discussed issues related to the acceleration of the implementation of the project for the development of a metal ore deposit at the Southbai site in the Navoi region in Uzbekistan, Trend reports citing Dunyo information agency.

The issue was discussed by the First Deputy Minister of Investment and Foreign Trade of Uzbekistan Laziz Kudratov, Chairman of Shindong Resources, Chairman of the Korean-Uzbek Business Association Kim Yong-Ku and Deputy Chairman of the Association Chairman Kim Chang-keon.

Representatives of South Korea noted the completion of a feasibility study of the project, which will be sent to the Uzbek side for consideration, assessment of its effectiveness, and payback.

This important investment project for Uzbekistan provides for the creation of a full-fledged cluster for the extraction and processing of metallurgical raw materials and the production of export-oriented products with high added value.

Representatives of South Korea expressed their readiness to attract leading South Korean companies to this cluster.

The parties agreed on joint steps to implement measures aimed at providing the project with external infrastructure, and also considered the tax rates for the use of subsoil.

The Uzbek side expressed its readiness to provide all kinds of assistance in the successful implementation of the project and its promotion for the development of Uzbekistan’s industry.


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