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NEWS

Uzbekistan to implement investment projects worth $16.9B

en.trend.az
20 November 2015

President of Uzbekistan Islam Karimov signed a resolution “On measures to implement the agreements reached during the International Investment Forum in Tashkent”, according to which in 2016-2017 it is planned to start the implementation of new projects with a total value of $16.9 billion.

In total, in the coming two years it is scheduled to begin implementation of 317 investment projects on modernization, technical and technological renewal of production.

In particular, in the energy sector of Uzbekistan it is planned to implement 53 projects worth $10.37 billion. These included 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.

It was previously reported that the International Investment Forum, the main task of which was the presentation of the leading enterprises of the republic included in the state program of privatization and their sale to strategic foreign investors was held in Tashkent November 4-6.

Following the results of the forum work, as many 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 many 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, as well as chemical industries.