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Uzbekistan: Uzbek leader Islam Karimov

2015/11/22

Uzbek leader Islam Karimov signed a resolution “On measures to implement the agreements reached during the International Investment Forum in Tashkent", which stipulates implementation of new projects with a total price of $16.9 billion in 2016-2017.

In general, implementation of 317 investment projects on modernization, technical and technological renewal of production is expected to be launched in the coming two years.

It is planned to implement 53 projects worth $10.37 billion in the energy sector of Uzbekistan. These include the construction of the fourth line of the Uzbek section of the Central Asia-China gas pipeline, a new thermal power plant with a total capacity of 900 MW in the Namangan region, construction of the complex for the production of olefins in the Bukhara region of Uzbekistan.

Project funding is provided by foreign investments and loans worth $8.75 billion, the companies' own funds worth $4.9 billion, loans of the Fund for Reconstruction and Development of Uzbekistan worth $3.1 billion and loans of Uzbek banks worth $2.89 billion.

The International Investment Forum, the major task of which was the presentation of the leading enterprises of the republic included in the national program of privatization and their sale to strategic foreign investors was held in Tashkent on November 4-6.

Following the results of the forum work, as a lot of as 104 agreements and memoranda with foreign investors were signed, which provide for joint work on projects worth $12.4 billion.

Of the total number of signed documents, as a lot of as 35 documents worth $9.4 billion were signed regarding projects and enterprises in the fuel and energy sector - oil and gas, oil and chemical, inclunding chemical industries.

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