Baku, Azerbaijan, Sept. 7
Singapore’s Exim Investments Pte LTD company will repair the Afrosiyob Palace hotel in Samarkand (Uzbekistan), says the resolution of the Cabinet of Ministers "on measures to support the attraction of direct foreign investment for the reconstruction of the ““Afrosiyob Palace" State Unitary Enterprise (SUE)” hotel, Sputnik Uzbekistan reported.
The Singapore company will liquidate debts of the hotel to the state budget of Uzbekistan and state trust funds regarding the wages, as well as to other creditors with the fulfillment of investment and social obligations.
The Singaporeans will invest $12 million in the project during the next two years.
Until November 1, 2019, the place should be transformed into a four-star hotel with 280 rooms.