Friday, 29, March, 2024

Economy

The Ministry of Energy, the Korean Energy Agency (KEA) and the Korean company SK Engineering & Construction (SK E&C) signed a Memorandum of Understanding (MoU) to develop a feasibility study for the Mubarek TPP modernization project, the Ministry of Energy said.

On October 28, an industrial flow of natural gas was obtained at the Yormok field with a provisional flow rate of 250-300 thousand cubic meters per day, the Ministry of Energy said.

On October 24, President Shavkat Mirziyoyev signed a decree canceling the hand-over of the Uzbekistan Railways’ stake (45%) in UzbekKo’mir (Uzbek Coal) for the trust management to Russian company Progress Gor Tech. This was stipulated by the presidential March decree on increasing the management efficiency of UzbekKo’mir JSC.

On October 25−26 in Nurafshan city hosted the Invest in Tashkent Region Forum, the Tashkent governor’s office said. The forum was reportedly attended by various government delegation, institutional investors, business executives - in total more than 350 attendees from more than 40 countries.

Thank you to the American-Uzbekistan Chamber of Commerce for organizing this event. And congratulations on the rapid expansion of your membership to more than three times as many members today as you had three years ago. That reflects the growing commercial partnership between our countries.

The State Statistics Committee has reported on the volume of production of vehicles in January-September. In particular, the production of passenger cars topped 186,432, while in 2018 - 132,774, recording a 40.4 percent increase.

Uzbekistan exported US$ 3.98 billion worth gold in January-September this year. the State Statistics Committee said in a report.

President Shavkat Mirziyoyev during a trip to Surkhandarya province attended the commissioning of a cement plant owned by the foreign-owned Surkhoncementinvest in Djarkurgan district, the presidential press service said.

Japanese Itochu and Marubeni have shown interest in participating in the modernization of Uzbekistan’s gas transmission system (GTS), the Ministry of Energy said.

On October 17, the State Acceptance Commission signed the Facilities Acceptance Act of the Kandym gas processing plant in the Bukhara province. This marked the completion of the construction of the plant and the utilities & offsite, the Ministry of Energy said.

The World Gold Council has published a list of the largest gold holders in September 2019, in which Uzbekistan 325.7 tons of gold reserves holds 17th spot.

The Royal Dutch Shell's subsidiary, Shell Catalysts & Technologies and Surhan Gas Chemical Operating Company of Uzbekistan signed the process license agreement providing for building a 5 BCM natural gas throughput capacity gas processing plant in Uzbekistan.

The rates of import duties on confectionery and chocolate will be raised in Uzbekistan starting from January 1, 2020. This is provided for by Oct. 2 presidential decree.

The World Bank has published an economic survey on Migration and Brain Drain in Europe and Central Asia. The document notes that the main risk for Uzbekistan is the prospect of turbulence in the global economy.

Uzbekistan and Japan are in talks to launch the production of electric buses. This became known as a result of the meeting held on the eve chaired by Shavkat Mirziyoyev, the presidential press service said in a statement.

Uzbekistan sets a precedent today with the announcement of the winning private sector bidder for the country’s first ever competitively tendered solar power public-private partnership (PPP). This announcement opens new markets for private investment and makes progress towards the country’s goal to increase use of renewable energy. This PPP, tendered under the World Bank Group’s Scaling Solar program, will soon add 100 MW of clean, renewable energy to the country’s energy mix.

A new US$ 1.1 billion 1300 MW capacity thermal power plant (TPP) under a public-private partnership (PPP) terms will be erected in the Syrdarya province, with the commissioning of the TPP scheduled in 2022.

Chinese company Hebei Good Hope Logistics Development Co. will launch an electric pickups production unit in Uzbekistan. The relevant agreement was inked during the visit of President Shavkat Mirziyoyev to China in April this year.

Uzbek-French joint venture Uzenergoengineering-Assystem for designing various types of electricity networks and energy facilities using innovative technologies has been set up in Tashkent, the Ministry of Energy of Uzbekistan said.

Wind mast installing ceremony was held in Bukhara’s Gijduvan district as part of the implementation of a wind farm project with the Chinese corporation Lioaning Lide, the Foreign Ministry said.