Siemens setting out to deliver energy projects worth €3.4bn in Uzbekistan

By Muzaffar Ismailov in Tashkent June 1, 2023

Siemens is to deliver energy projects worth €3.4bn in Uzbekistan.

The investment announcement was made as the German conglomerate's president for the European region Ariel Porat arrived in Tashkent for business negotiations. He was received by the deputy head of Uzbekistan’s investment ministry, Sarvar Hamidov. The parties discussed the development of cooperation between Munich-based Siemens and Uzbekistan and the implementation of new joint initiatives.

A main focus was the energy projects, including a combined-cycle gas plant in Surkhandarya region and photovoltaic and thermal power plants, with the latter involving the Navoiazot chemical works.

Discussions also discussed potential cooperation in metallurgy, electrical engineering, hydrogen energy and the oil and gas industry.

The parties agreed on drawing up a joint investment roadmap to outline the mechanisms and deadlines for the implementation of projects.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Uzbekistan announces $500mn in backing for projects in rare earths

Uzbekistan is to invest $500mn in backing promising projects in the mining of rare earth elements (REE), the presidential press service has announced. The country’s ... more

Uzbekistan’s key rate held at 14% as central bank points to fears over reacceleration of inflation

Uzbekistan's central bank on April 25 kept its benchmark interest rate on hold at 14%, pointing to risks that inflation could once more accelerate. Planned hikes of state-regulated prices for ... more

Uzbekistan can expect GDP growth of 5.2% this year and 5.4% next, says IMF

The International Monetary Fund (IMF) projects real GDP growth of 5.2% this year and 5.4% in 2025 for Uzbekistan in its newly released ... more

Follow Us On

Most Read

  1. The models are wrong, climate change is accelerating faster than predicted
    7 days ago
  2. Russia already treating Bosnia’s Republika Srpska as an independent state
    7 days ago
  3. Cheap Russian drones overwhelm US-made Abrams tanks, taken out of action
    5 days ago
  4. Putinomics: Russia’s oil and gas revenue to double in April
    6 days ago
  5. Kuwait reacts angrily to being cut out of Iraq and Turkey’s transport project
    6 days ago
  1. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  2. Saudi Arabia to scale back plans for Neom city
    22 days ago
  3. Iran vs Israel: Who is better equipped for war?
    18 days ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    1 month ago
  5. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    6 months ago

Reports

Dismiss