Power supply in south Uzbekistan will be significantly improved thanks to the construction of the additional generation capacity at existing Talimarjan power plant (TPP) with the help of a up to $240-million sovereign loan provided by the EBRD to JSC Uzbekenergo. The project will be the largest EBRD investment in Uzbekistan to date. The funding…
Uzbekistan is negotiating to attract Germany’s Deutsche Bahn for reforming Uzbekistan Railways. “Now we are working with Deutsche Bahn, a German state-owned company, the world’s largest railway freight carrier. We are now negotiating with them to attract their experts and consultants to develop a strategy for further activities of Uzbekistan Railways,” said Laziz Kudratov, the…
Uzbekkhimmash, a subsidiary of Uzbekneftegaz, will direct more than $23 million to a foundry modernization project with construction of a new foundry. The government of Uzbekistan has recently approved main parameters of a feasibility study on this investment project. The new foundry’s annual capacity will be 4,000 tons of casting, of which about 500 tons…
Uzbekistan Railways is considering the possibility of building another high-speed railway to Samarkand. “Recently, the company’s management has raised the issue of building a dedicated electrified line from Tashkent to Samarkand, which will be run only by Afrosiyob train. This will shorten the journey to about 1 hour and 20 minutes,” said the message. It…
In 2019, Uzbekistan plans to increase exports to Ukraine to $220 million and resume flights between Tashkent and Kiev. The announcement was made by the Uzbek Ambassador to Ukraine Alisher Abdualiyev. In addition, it is planned to develop projects to attract direct investments of $10 million in Uzbekistan for the production of pharmaceutical products. It…
Investments in the economy of Uzbekistan should grow by 16%, to $17 billion in 2019, said President Shavkat Mirziyoyev during the annual address to the Houses of Parliament on December 28 It is planned to absorb 138 trillion soums of investments ($16.6 billion). At the same time, the authorities plan to increase the size of…
UAE-based investment company Frontera Capital will acquire securities of O’zsanoatqurilishbank. The delegation of O’zsanoatqurilishbank visited the United Arab Emirates, where the parties signed the agreement on development of cooperation. The document provides for raising $50 million using investment and credit instruments. The agreement also provides for the sale of securities of the Uzbek bank to…