TASHKENT, Uzbekistan, November 27. Japanese ITOCHU trading and investment company has expressed interest in developing business in Uzbekistan, Trend reports.
The news followed a meeting between Deputy Prime Minister of Uzbekistan Jamshid Kuchkarov and a delegation of ITOCHU Corporation headed by Masahiro Imai, Senior Vice Representative for External Relations.
During the meeting, prospects for investments in the automotive industry were discussed. ITHOCU representatives emphasized Uzbekistan’s high investment potential of Uzbekistan.
The parties expressed their intention to continue cooperation and agreed on further steps to implement the plans and ideas discussed.
Earlier this year, ITOCHU and Uzbekistan's Navoiyuran, specializing in geology, mining and metallurgy, expressed their interest in implementing new projects for the joint extraction of uranium in Uzbekistan.
Proposals were also put forward to increase the existing volumes of uranium production and reduce the cost of production by introducing digital technologies into production.
Moreover, the Japanese expressed their proposals on geological exploration and the development of new deposits, the introduction of high technologies, the effective use of the corporation's international experience in the global market and the creation of new capacities for the production of sulfuric acid with the participation of geologists and engineers.
Uzbekistan plans to double the volume of uranium production by 2030, bringing it from 3,600 in 2022 to 7,000 by the end the designated period.