S. Korean company eyes funding projects to modernize power generating facilities in Uzbekistan

Oil&Gas Materials 28 June 2021 15:06 (UTC +04:00)
S. Korean company eyes funding projects to modernize power generating facilities in Uzbekistan

BAKU, Azerbaijan, June 28

By Klavdiya Romakayeva - Trend:

South Korean SK Ecoplant Co., Ltd. plans to raise funds in the amount of up to $5 billion for the implementation of projects to modernize power generating facilities in Uzbekistan, Trend report referring to the Embassy of Uzbekistan in South Korea.

Ambassador of Uzbekistan to South Korea Vitaly Fen and the vice-president of SK Ecoplant Kim Jae-heun discussed issues of expanding the participation of SK Ecoplant in the implementation of investment projects in Uzbekistan.

Kim Jae-heun informed the Uzbek side of the recent change of the company's name from SK Engineering & Construction to SK Ecoplant. According to him, this is due to the revision by the company's management of the strategy for further development, which consists of the transition to the implementation of ‘green’ projects focused on environmental protection and the use of renewable energy sources.

It was noted that this strategy provides for a significant intensification of the company's activities in the direction of cooperation with Uzbekistan, with which South Korea has established a special strategic partnership.

Speaking about the plans of SK Ecoplant, Kim Jin Hyun informed about the interest of the South Korean side in the implementation of projects in Uzbekistan to modernize power generating capacities, develop regional heating systems, re-equip and increase the efficiency of self-generating facilities at chemical plants, as well as projects to solve and the elimination of intermittent problems caused by the stresses resulting from the construction of large-scale solar and wind power plants.

It is reported that for all these projects, it is planned to introduce the most modern technologies that will make it possible to efficiently obtain energy resources and products at a low cost without noticeable losses. Also, it was noted that SK Ecoplant plans to attract funds in the amount of $3 to $5 billion for these purposes.

To promote these initiatives of the South Korean side, an agreement was reached on organizing a visit of the SK Ecoplant delegation to Uzbekistan in July-August.

In conclusion, the vice-president of SK Ecoplant proposed to form a joint investment program between the government of Uzbekistan and South Korean companies, the adoption of which would be advisable to carry out in 2022 as part of the celebration of the 30th anniversary of the establishment of diplomatic relations between Uzbekistan and South Korea.


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