Egyptian Elsewedy Electric Company plans to introduce innovations in Uzbekistan's energy sector

Uzbekistan Materials 14 February 2023 12:01 (UTC +04:00)
Nazrin Babayeva
Nazrin Babayeva
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BAKU, Azerbaijan, February 14. Egyptian Elsewedy Electric Company expressed interest in introducing innovative developments of the company in Uzbekistan’s energy sector, Trend reports via the press service of Uzbekistan’s Ministry of Investment, Industry, and Trade.

The matter was discussed between Uzbekistan’s Minister of Investment, Industry, and Trade Laziz Kudratov, with the management of Elsewedy Electric at a recent meeting.

During the talks, the sides discussed prospects of the implementation of joint projects, as well as matters of development in Uzbekistan’s energy sector.

Throughout negotiations, the representatives of the company emphasized the reforms carried out in Uzbekistan in recent years, due to which the investment climate has improved, and the volume of direct foreign investments has increased.

At the meeting, the Egyptian company presented innovative projects in the energy field, implemented in 19 countries around the world. In particular, the construction of large energy facilities, high-voltage transmission lines, the establishment of "green energy" facilities, as well as the construction of "smart" cities.

Following the discussions, the parties agreed on the format of joint work in the framework of the development and implementation of investment projects in Uzbekistan.

Elsewedy Electric company, which was founded in 1938, has extensive experience in the implementation of infrastructure projects in various aspects, such as the construction of cities, hydroelectric power plants, thermal, cloud, and wind power plants, etc.

Earlier in February, the Egyptian company expressed readiness to launch a joint venture in Uzbekistan. The issue was discussed with Ambassador Extraordinary and Plenipotentiary of Uzbekistan to Egypt Mansurbek Kilichev and the head of Elsewedy Electric company Ahmed Elsewedy. The parties discussed also the prospects for the implementation of major investment projects with the participation of the company in Uzbekistan.