Uzbekistan’s energy sector attracts UK's business
BAKU, Azerbaijan, Sept. 29
By Klavdiya Romakayeva - Trend:
Uzbekistan, jointly with MottMacDonald British consulting company works on a master plan for the long-term development of the electricity sector in Uzbekistan, Trend reports with reference to Dunyo information agency.
As a part of the international online conference Virtual Energy Exports 2020, a separate session on the energy sector of Uzbekistan was organized by the Energy Industry Council in partnership with the UK Department of International Trade, the country's Export Credit Agency, and the Scottish International Development Agency.
Major companies such as Shell, Wood Plc, Chevron, Repsol, Total, Aramco, Petrofac, and Warley Parson, as well as the European Bank for Reconstruction and Development, the International Finance Corporation, and other financial institutions, are taking part in the current conference, which will last until October 1.
Uzbek side was presented by Deputy Minister of Investments and Foreign Trade Shukhrat Vafayev, Deputy Minister of Finance Golib Kholzhigitov, Deputy Head of Department of the Ministry of Energy Bahrom Umarbekov, Head of Department of Uzbekneftegaz JSC Bekhzod Usmanov.
A presentation of the investment potential of Uzbekistan in the electric power sector with an emphasis on the possibility of participation of British companies in alternative energy projects such as the construction of solar and wind power plants in the regions of the country was made.
A number of large promising projects proposed to British companies for joint implementation were announced, including the modernization of the Bukhara oil refinery and the Shurtan gas chemical complex, the acquisition of shares of Uzbekneftegaz JSC in the future as part of the company's planned entry into the international capital markets in 2024 by placing initial public offerings (IPO) and Eurobond issues.
In addition, the parties discussed the positive dynamics of Uzbek-British cooperation in trade, economic, investment, and technological spheres, as well as the readiness of the official circles of the two countries to further expand and deepen the interaction, including within the framework of the Uzbek-British Council for Industry and Trade, whose meeting is scheduled for February 2021.
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