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    Uzbekistan Economics Finance

    Russia's VEB.RF plans to invest over $3 bn in Uzbekistan projects

    Russia's VEB.RF plans to invest over $3 bn in Uzbekistan projects

    VEB.RF, Russia's national economic development institution, plans to invest over $3 bn in projects in Uzbekistan, TASS reports. This investment will cover sectors including nuclear power, oil and gas, mining, metallurgy, and power industry modernization.

    Photo: VEB.RF
    Source: Freepik
    A primary focus of the investment will be the construction of nuclear power plants and small nuclear reactors, in collaboration with Russia. VEB.RF is financing 21 export projects in Uzbekistan, totalling RUB 157.7 bn ($1.7 bn). These projects involve the supply of urban transport, municipal machinery, and equipment for the electric power industry.

    VEB.RF plans to undertake development projects in the oil and gas and gas chemical industries, mining, metallurgy, and the modernization of the power industry and gas transmission system. According to the institution, "VEB.RF intends to continue cooperation with Uzbekistan in existing projects, as well as to develop new partnerships, with projects worth over RUB 300 bn ($3.3 bn) at various stages of development."

    TASS, citing materials for Russian President Vladimir Putin's visit to Tashkent, reported that Uzbekistan and Russia are working on the construction of a gas chemical complex and the establishment of industrial parks in Uzbekistan's Navoi and Bukhara regions.

    The two sides are negotiating the parameters of a contract for the construction of a nuclear power plant (NPP) in the Jizzakh region. "An important joint project is the construction of a Russian-designed nuclear power plant in the republic. At present, the parameters of the general contract on the NPP are being agreed upon, as well as the issues of constructing a plant with small nuclear reactors in the country are being worked out," the documents state.

     

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    27.05.2024, 20:05   Comments (0)   1575
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