Uzbekistan plans to spend foreign investments worth $4.506 billion on 199 investment projects in 2017.
This is envisaged in an investment program for 2017 approved by a decree of Uzbekistan’s President Shavkat Mirziyoyev.
Meanwhile, thanks to the foreign loans guaranteed by the government, it is planned to spend $1.854 billion on 79 projects and thanks to foreign direct investments – $2.651 billion on 120 projects.
It is planned to spend a major part of foreign investments ($2.47 billion) on 37 projects in the fuel and energy sector and $1.97 billion out of this amount as direct investments of foreign companies on 20 projects.
Particularly, NK LUKOIL PAO will invest $1.217 billion in 2017 in implementation of two production sharing agreements (PSA) with a total cost of more than $8 billion in Uzbekistan.
Under the program, Gas Project Development Central Asia AG (GPD, a subsidiary of Gazprom International) will start implementing two projects on development of gas fields in Ustyurt and Surkhandarya regions. Total cost of these projects nears $1.3 billion.
It is also planned to spend $506.7 million on 17 projects in energy sphere thanks to foreign loans of international financial institutions. Japan’s Mitsubishi Corporation and Mitsubishi Hitachi Power Systems Ltd. will begin the implementation of two projects with a total cost of about $1.5 billion. Moreover, China’s Zhuhai Singyes Green Building Technology Co. Ltd. will start the construction of solar power station in Samarqand region.
In 2016, under the investment program for 2016, Uzbekistan planned to spend foreign investments worth $4.042 billion for 154 projects.
The volume of spent foreign investments and loans in Uzbek economy increased by 11.3%, to $3.7 billion in 2016 as compared to 2015.
The implementation of 164 big investment projects with a total cost of $5.2 billion was completed in Uzbekistan in 2016. (Trend/Business World Magazine)
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