The Meridiam investment fund has shown interest in the Tashkent-Andijan toll road project, marking the beginning of potential long-term cooperation with Uzbekistan in the infrastructure sector. During a meeting on January 30, with Deputy Minister of Economy and Finance Ilkhom Umrzakov, Remy Hassenforder, Director for Eurasia at Meridiam, highlighted the fund's readiness to engage in this project as part of broader infrastructure initiatives in the country.
The Paris-based Meridiam, which specializes in public infrastructure investments, has made notable strides in Europe, North America, and Africa since its establishment in 2005. At the meeting, Hassenforder, along with Sarp Istanbulugli and other officials from Uzbekistan's Ministry of Economy and Finance, discussed opportunities for collaboration on infrastructure projects, particularly those based on public-private partnership (PPP) models.
The focus of the discussions was on the construction of general secondary schools in various regions of Uzbekistan, designed through the innovative PPP model. In addition, there were in-depth talks about potential cooperation in sectors such as education, healthcare, and transport.
Meridiam representatives expressed a keen interest in Uzbekistan's evolving market, recognizing its significant investment potential. They praised the government’s ongoing reforms and the push for PPP-based projects, emphasizing their commitment to contributing their experience and offering innovative financial solutions.
The meeting also included discussions on mechanisms to enhance investment attraction and improve project financing. Both parties expressed optimism for expanding cooperation in sustainable, long-term infrastructure projects that would contribute to the country’s economic development.
In closing, both Meridiam and Uzbek officials affirmed their intent to support joint initiatives and collaborate on future infrastructure projects in the years to come.
The Tashkent-Andijan toll road project, under discussion since 2019, aims to construct a new tunnel in Kamchik and is expected to cost $4.65bn. The road will connect Tashkent to Andijan in three stages: Tashkent to Angren (78 km), Angren to Pap (93 km), and Pap to Andijan (143 km).
Travel costs on the toll road are estimated at $5-6 per car. The project is set to be completed in about six years, with the tender process starting in March 2025, and the winner expected to be determined by April 2026.
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