TASHKENT, Uzbekistan, December 20. Russia plans to construct a copper-processing plant in Uzbekistan in 2024, Trend reports.
The news was announced during the meeting between Governor of the Russian Sverdlovsk region Yevgeny Kuyvashev, Chairman of the Government of the Russian Federation Mikhail Mishustin and a delegation of heads of government of the CIS countries.
During the meeting, the Russian side presented to the Uzbek delegation an investment project titled "Development of the Yeshlik-1 deposit." The project involves the construction of a copper processing plant in Uzbekistan, launched by Uralmashzavod in 2021. The facility is expected to be operational by 2024, contributing to the economic development and bilateral cooperation between the two nations.
"If we talk about cooperation with Uzbekistan, we are building the Almalyk Mining and Processing Plant on a turnkey basis, showcasing the broad spectrum of collaborative efforts aimed at fostering strong economic ties between Russia and Uzbekistan,” Kuyvashev emphasized.
The share of investments and loans from Russia for the development of Uzbekistan’s economy amounted to approximately $2.9 billion from January through September 2023
As per data provided by Uzbekistan’s State Statistics Committee, the recorded number comprises 15.9 percent of the total foreign investments, thus making Russia the top second country among those investing in Uzbekistan.
The committee said investments and loans from Russia constituted 20.3 percent of the total foreign investments in the country in 2022, which translates to roughly $2 billion, standing as the biggest figure among all investing nations.
