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Tashkent: Uzbekistan hopes to attract $3.5 billion in investment from the UAE in sectors ranging from gas exploration to synthetic fuels production, according to a decree obtained by Reuters on Monday.
The decree comes on the heels of Uzbek President Islam Karimov's visit to the UAE in mid-March and lists 21 investment projects in the Central Asian nation that had been offered to Dubai companies as a result.
According to the document, signed by Karimov, International Petroleum Investment Co. has tentatively agreed to build a $1.1 billion synthetic fuels production facility at a gas processing plant in Uzbekistan.
The company would also conduct gas exploration worth $200 million in the gas-rich western part of Uzbekistan, it said.
Mubadala Development Company would invest in an ammonia production plant worth about $600 million on the basis of a big Uzbek fertiliser factory.
Other projects include construction of a business centre and other facilities in the capital Tashkent, as well as a cement plant, restoration of irrigation systems and others.
The total value of potential investments is more than $3.5 billion, the decree said.
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