Uzbekistan's President Shavkat Mirziyoyev has inaugurated significant energy ventures in partnership with leading Saudi company ACWA Power. During the ceremony in Bukhara, contracts amounting to $1.7bn for three wind power plants were signed, with the installation of turbines already underway.
In addressing the gathering, President Mirziyoyev stressed the need to expedite the implementation of these projects for mutual benefits, emphasizing the advantages of launching them at the earliest.
Ongoing studies for wind power plants in Karakalpakstan ($2.6bn) and solar power plants in Samarkand ($1.8bn) are nearing completion. The president proposed that local companies take the lead in constructing electricity networks covering 1,600 km, with an estimated cost of $700mn. Additionally, he highlighted the importance of increasing the "local content" of energy projects to 25% and urged the greater involvement of Uzbek companies in design, construction, and product delivery.
.jpg)
Expressing confidence in the swift commencement of practical work on the projects outlined in the new "Road Map," President Mirziyoyev emphasized key initiatives:
- The "Green Hydrogen" project in Navoi, Bukhara, and Syrdarya, with an investment of $4bn, aims to develop the technical and economic basis and address financing issues by May 2024.
- The preparation of documents for the construction of the new strategic Tashkent International Airport, a $1.5bn project, is expected to be completed by June next year, followed by the signing of the Investment Agreement.
- The production of a wind farm tower with Vision Industries in Qaraqal-Pakistan, costing $100bn, is set to begin in Q2 2024.
- Work on the production of medicines at the "Tashkent Pharma Park" will commence in early 2024, with financial contributions from Jamjoom Pharma and ACWA Power.
.jpg)
President Mirziyoyev disclosed that six projects, valued at $150bn, are actively underway with the Saudi Development Fund. He underscored the significance of both developing and executing a portfolio of new projects and expressed support for the establishment of the Economic Support Fund, allocating $100bn.
The president extended his gratitude to Khalid al-Falih, the Minister of Investments of the Kingdom of Saudi Arabia, who attended the ceremony. He urged strict control over the projects and proposed detailed discussions on their implementation at the upcoming meeting of the intergovernmental joint commission scheduled for December 21-22.
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)