ISLAMABAD, October 28. /Dunyo IA/.  Ambassador of Uzbekistan Alisher Tukhtaev held talks with the head of the Pakistani company “Izhar Group” Umar Izhar, reports Dunyo IA correspondent.

At the beginning of the meeting, a presentation was delivered showcasing the constructive works, modern urban planning initiatives, and infrastructure projects being implemented in Uzbekistan, with a particular focus on the New Tashkent City construction project.

As noted, the total area of the New Tashkent City project spans 20,000 hectares. In the first phase of the project, it is planned to develop an area of 6,000 hectares and implement projects worth approximately 50 billion US dollars.

In turn, Head of “Izhar Group” provided information on the company's core business areas, its experience in the development sector, and the projects it is executing in international markets. He emphasized that the company's activities place a special focus on the construction of modern residential complexes comprising cottages and villas.

Furthermore, based on the company's experience gained in Türkiye and other countries, the opportunities for applying optimal models of cooperation during the construction process of New Tashkent City were discussed. In particular, attention was focused on mechanisms that serve to reduce the investor's need to spend large amounts of capital to acquire land in the initial phase of the project, facilitate an earlier start to construction works and enable step-by-step project implementation.

According to Umar Izhar, such an approach could serve to utilize investment resources efficiently, accelerate the project implementation process, and increase the pace of developing the New Tashkent area.

In addition, views were exchanged on a number of practical matters related to the execution of investment projects, including technical and legal requirements, financing mechanisms, taxation, land allotment, mortgage and leasing opportunities, as well as regulations and standards in the construction sector.

Following the negotiations, an agreement was reached to hold meetings with representatives of the relevant ministries and agencies of Uzbekistan to comprehensively study and discuss the terms of implementing the investment projects, as well as to arrange a visit of the “Izhar Group” delegation to Uzbekistan.

Established in 1959, “Izhar Group” is one of Pakistan's prominent diversified conglomerates. The company operates in sectors such as construction, EPC contracting, manufacture of steel structures, production of precast concrete, engineering systems, and the construction of residential and industrial facilities. To date, the group has participated in the construction of more than 100 cement and mineral fertilizer production plants, power facilities, airports, dams, hospitals, as well as industrial and commercial sites in Pakistan.