TASHKENT, Uzbekistan, October 15. The portfolio of joint projects between Uzbekistan and Saudi Arabia has reached $27 billion, Trend reports, citing the Uzbek president's office.
A substantial portion of this collaboration—initiatives valued at $15 billion—is being executed in partnership with ACWA Power, concentrating on pivotal energy ventures.
This was announced during a meeting between President of Uzbekistan Shavkat Mirziyoyev and Khalid Al-Falih, Minister of Investment of the Kingdom of Saudi Arabia, who arrived in Tashkent at the head of a delegation of leading Saudi companies.
During the talks, the parties discussed topical issues of expanding Uzbek-Saudi multifaceted cooperation and advancing a comprehensive partnership in line with high-level agreements reached earlier.
The meeting highlighted with satisfaction the dynamic development of bilateral relations in recent years. Contacts at all levels have intensified, while the volume of mutual trade, direct investment, and the number of joint ventures continue to grow. The frequency of direct flights between the two countries has also increased.
The sides noted the fruitful results of the recent meetings of the Intergovernmental Commission and the Business Council held in Tashkent, during which a number of new agreements and contracts were signed.
Particular attention was paid to the swift implementation of joint projects and new initiatives in green energy, agriculture, electronics, real estate, and regional infrastructure modernization, as well as in other priority sectors of mutual interest.
ACWA Power is a developer, investor, co-owner, and operator of a network of power generation and desalination facilities, operating in 13 countries throughout the Middle East, Africa, and Central and Southeast Asia. ACWA Power's portfolio of operational and developmental projects has an investment value of USD 85.7 billion, with a capacity of 55.1 GW of electricity and 8 million m³/day of desalinated water. ACWA Power, headquartered in Saudi Arabia, operates regional offices in Riyadh, Dubai, Baku, Beijing, Cairo, Addis Ababa, Jakarta, Amman, Rabat, Muscat, Johannesburg, Istanbul, Tashkent, and Hanoi. It invests in, develops, co-owns, and operates a portfolio of 82 projects capable of generating 55.1 GW of power and producing 8 million m³/day of desalinated water. ACWA Power and its associated companies employ around 4,000 individuals across projects in 13 countries.
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