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RIYADH: Saudi Investment Minister Khalid Al-Falih led a highprofile delegation to Uzbekistan, resulting in investments worth $12 billion through mutually beneficial projects. Uzbekistan President Shavkat Mirziyoyev welcomed the delegation, leading to the signing of agreements in energy, agriculture, pharmaceuticals, IT and infrastructure development.
A ceremony was held to award Al-Falih the “Dustlik” Order for his outstanding contribution and comprehensive support for developing multifaceted and mutually beneficial relations between Uzbekistan and Saudi Arabia.
President Mirziyoyev highlighted the positive progress between the two nations, citing increasing trade turnover, growing Saudi direct investments, particularly in green energy, and frequent direct flights. He emphasised the impact of the Saudi Fund for Development, supporting vital projects in healthcare, education, water supply, and other key sectors.
According to Uza, a collaborative fund for expanding Uzbekistan’s economic opportunities is in the process of being established. An agreement was reached to promote new projects and programmes worth $11 billion in transport infrastructure, utilities, geology, irrigation, household waste processing, higher education, and labour migration.
The partnership with ACWA Power, a major investor in green energy development in Uzbekistan, was underscored. ACWA Power is actively engaged in projects totalling $7.5 billion. Mirziyoyev celebrated the establishment of a combined cycle power plant and a green hydrogen production facility in collaboration with ACWA Power.
The Syrdarya power plant, valued at $1.1 billion, is expected to cater to the electricity requirements of more than 3 million households and numerous industrial enterprises. The green hydrogen production facility aims to produce 3,000 tonne of hydrogen, subsequently processed into mineral fertilisers.