Saudi Arabia, Uzbekistan ink 10 investment agreements valued...| MENAFN.COM

Saturday, 01 October 2022 04:13 GMT

Saudi Arabia, Uzbekistan ink 10 investment agreements valued at USD12B


(MENAFN) Throughout a conference of the Saudi-Uzbek Business Council in Jeddah on Wednesday, Saudi Arabia and Uzbekistan have inked more than 10 investment deals, valued at least at SR45 billion (USD12 billion).

The deals highlight numerous areas and contain a number of agreements among the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan, the Ministry of Energy of the Republic of Uzbekistan, as well as ACWA Power, a developer, investor, co-owner in addition to operator of a portfolio of power generation and desalinated water output plants.

Saudi Minister of Investment Khalid Al-Falih stated that “Over 10 agreements were signed between the Kingdom and Uzbekistan in several sectors, with a value exceeding SR45 billion.”

In a bourse filing, ACWA Power mentioned that it is going to ink a USD2.4 billion agreement with the administration of Uzbekistan for a 1,500 MW wind venture.

To be sited in Karakalpakstan, Uzbekistan, the business pursues to power 1.65 million households as well as counterbalance 2.4 million tons of carbon emissions a year.

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