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.

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