Uzbekistan Strengthens Cooperation with Sumitomo and ACWA Power

Tashkent, Uzbekistan (UzDaily.com) — On 9 April, the Minister of Investment, Industry, and Trade of the Republic of Uzbekistan, Laziz Kudratov, held negotiations with the leadership of the Japanese Sumitomo Corporation, represented by Hajime Mori, and the Saudi company ACWA Power, represented by Abid Malik.

During the meeting, the parties analyzed the implementation progress of major investment programs aimed at modernizing the country's energy infrastructure. It was noted that joint efforts are ensuring high efficiency in the construction of renewable energy facilities. Following the negotiations, specific mechanisms were agreed upon to accelerate construction work and optimize capacity commissioning schedules.

Special attention was paid to supporting the initiatives of foreign investors. The Minister emphasized the ministry's readiness to provide comprehensive assistance at all stages of the projects. Representatives of the companies noted the importance of continuous interaction with Uzbek authorities, which facilitates the effective realization of these projects.

Sumitomo Corporation, founded in 1919, holds assets worth US$73 billion and employs a staff of 5,100. ACWA Power, operating since 2004, manages US$18.7 billion in assets and has 4,000 employees.

Following the negotiations, an agreement was signed for the joint implementation of five major energy projects with a total capacity of 3.5 GW and a combined value of US$4.2 billion.