President of Uzbekistan Shavkat Mirziyoyev received the co-chairman of the Uzbek-Saudi Business Council, chairman of the board of ACWA Power company Muhammad Abunayyan on June 4, as presidential press service informed.
Discussions were held about the state of joint investment project implementation and the growth of practical cooperation with major Saudi Arabian firms.
President Mirziyoyev expressed delight at the high degree of success that collaboration with ACWA Power has brought.
The company's pivotal role in the growth of the country's energy industry was highlighted, as well. Today, the combined portfolio of existing and potential projects totals to more than $17bn. Furthermore, the need of continuing efforts to recruit new Saudi enterprises to our nation within the context of the Business Council's operations was emphasized.
Speacial attention was brought on accelerating joint construction projects and airport management, modernizing digital and energy infrastructure, expanding heat supply networks, waste processing, pharmaceutical production, opening oncology clinics, creating a tourist center, a textile cluster, and developing greenhouse and livestock farming.
Earlier Daryo reported that ACWA Power, a global pioneer in energy transition and private water desalination, reached a milestone by obtaining an equity bridge loan from the Bank of China for $80mn. This funding is intended to support the Tashkent 200MW Solar PV and 500MWh BESS project in Uzbekistan. The loan is divided into two tranches, with RMB and USD evenly distributed.
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