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27/March/2022   Tashkent International Investment Forum

MIFT: Uzbekistan and Saudi Arabia will Support the Course towards Rapprochement of Business Groups

TASHKENT, March 27. /Dunyo IA/. Sardor Umurzakov, Deputy Prime Minister - Minister of Investments and Foreign Trade of Uzbekistan met with Mohammad Abunayyan, Chairman of the Board of Directors, ACWA Power on the sites of the Tashkent International Investment Forum, reports “Dunyo” IA correspondent.


According to Uzbekistan MIFT, during the meeting, the current state of projects implemented by the Saudi investor in Uzbekistan, as well as the prospects for expanding the company's activities in the country's energy sector were discussed.

It is worth noting that ACWA Power is a strategic partner of Uzbekistan in the field of traditional and alternative energy: its investment portfolio consists of 4 ongoing projects with a total value of more than $2.5 billion US. The total amount of generating capacity created by the Saudi company in the country exceeds 2.6 GW.

The parties discussed further steps to accelerate construction work and ensure the successful completion of ongoing projects. Joint actions are also planned to move to the practical phase of the project for the construction of a wind power plant in the Republic of Karakalpakstan with a capacity of 1.5 GW, which promises to become the largest generating capacity in this segment in the Central Asian region.

Following the meeting, Saudi investors were assured of the commitment of the Uzbek side to support the successful implementation of projects and further expansion of cooperation in the long term.

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