Uzbekistan to implement investment projects for US$17bn

Tashkent, Uzbekistan (UzDaily.uz) -- President of Uzbekistan Islam Karimov signed a resolution “On measures to implement the agreements reached during the International Investment Forum in Tashkent”.

The International Investment Forum was held in Tashkent on 5-6 November 2015. Within the forum, Uzbekistan signed 104 agreements and memorandums with foreign investors with total volume of US$12.4 billion. The liabilities of foreign partners make up US$4.72 billion.

According to the resolution, Uzbekistan plans to implement 317 investment projects with a total value of US$16.9 billion in 2016-2017, which are directed to modernization and re-equipment of production capacities.

The projects will be financed due to foreign investments for US$8.75 billion, own resources of enterprises for US$4.9 billion, loans of the Fund for Reconstruction and Development of Uzbekistan – US$3.1 billion and credits of the Uzbek banks – US$2.89 billion.

In particular, it is planned to implement 53 projects worth US$10.37 billion in the energy sector of Uzbekistan. 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 megawatts in Namangan region, construction of the complex for the production of olefins in Bukhara region.