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Uzbekistan to attract $3.5 bln FDI in 2015

25 December 2014

Uzbekistan plans to attract foreign investments worth $3.534 billion for implementing 156 projects in 2015.

This was noted in a state investment program approved by Uzbek President Islam Karimov.

Some $965 million of the amount will be reserved for 76 projects. The fund is expected to come from foreign loans guaranteed by the government. The remaining $2.57 billion will come through direct foreign investment. They will be spent to press ahead 80 projects.

The largest volume of foreign investments -or 2.29 billion have been designated for exploitation in the energy sector, including $2.07 billion of direct investment from foreign companies for 15 projects.

In particular, in 2015, Russian Lukoil Company will invest $587.2 million within two PSAs with total amount of over $8 billion in Uzbekistan.

A consortium of Korean companies led by KOGAS will continue the construction of the Ustyurt gas-chemical complex with a total cost of $4.1 billion in the north-west of the country. Next year, $907 million of foreign investments are expected to be invested in the project.

China's CNPC will invest $800 million in the construction of the fourth line of the Uzbek section of the Central Asia - China gas pipeline with a total cost of $2.1 billion.

Next year,Uzbekistan also plans to invest $908.1 million from the State Fund for Reconstruction and Development in the implementation of 34 projects included in the state investment program.