BAKU, Azerbaijan, May 5
By Klavdiya Romakayeva - Trend:
The preparation of the relevant documents were completed for the buyout of the state share in Uzbek-Korean Tungsten JV LLC, the founders of which are S. Korean Shindong Resources Co., Ltd. and the State Committee for Geology of Uzbekistan, Trend reports citing Uzbek embassy in S. Korea.
The ambassador of Uzbekistan in S. Korea Vitaly Fen and the Chairman of the Korean-Uzbek Business Association (KUBA), Chairman of Shindong Resources Co., Ltd. Kim Jong-un discussed the results of a working visit to Uzbekistan from April 21 to April 28, during which negotiations were held on an investment project to develop the Sautbay precious metal deposit in Navoi region with a total value of $80 million.
It was reported that the final decision of the government of Uzbekistan on this issue is planned to be taken in May-June 2021 and Shindong Resources Co., Ltd. will promptly work out measures for the complete redemption of state assets.
Also, Kim Jong-un informed about the ongoing KUBA humanitarian actions in Uzbekistan. Taking into account the twinning relations established between the administrations of the Fergana region (Uzbekistan) and the city of Inchon (S. Korea), the CUBA has worked out the issue of supplying ambulances and fire trucks to Fergana as humanitarian assistance.
In addition, the chairman emphasized the positive dynamics of visits of representatives of South Korean business circles to Uzbekistan, which is also facilitated by the increase in the number of direct flights between Uzbekistan and S. Korea, which will amount to four flights a week from May 9.
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