Uzbekistan plans to develop eight key projects with BlackRock and Al Mirqab Capital

A joint working group will develop the technical and economic indicators and implementation terms of the projects within a month.

Photo: Presidential Press Service

On June 7, President Shavkat Mirziyoyev received a delegation of international investors that included Hamad bin Jassim Al Thani, Chairman of the Board of Al Mirqab Capital, and Adebayo Ogunlesi, Senior Managing Director of the investment company BlackRock, the presidential press service reported.

The two sides discussed ways to strengthen mutually beneficial cooperation and the implementation of promising investment projects in Uzbekistan.

Priority areas identified include large-scale infrastructure and industrial projects through public-private partnerships. These projects encompass the modernization of gas and electricity distribution networks, water supply systems, the construction of energy generation and storage facilities, high-speed rail lines, and the development of real estate and business infrastructure.

Following the talks, the parties agreed to adopt a roadmap for the systematic advancement of these strategic projects.

Speaking to the Uzbekistan 24 TV channel, Minister of Investment, Industry and Trade Laziz Kudratov said Uzbekistan presented Al Mirqab Capital and BlackRock with a portfolio of eight major investment projects. These projects span the sectors of transport, energy, infrastructure, and tourism.

As a result of the meeting, a joint working group was established. It will develop the technical and economic parameters and determine the conditions for project implementation within one month.

In November 2023, President Mirziyoyev had previously met with Saif ur-Rahman Khan, CEO of Al Mirqab Capital, to discuss cooperation in the development of hotel infrastructure and tourism services, as well as the modernization of logistics and the energy sector.

The parties reviewed the company’s investment plans, which include constructing a logistics center in Tashkent region, a hotel and congress complex in Bukhara, and expanding energy generation capacity in Uzbekistan. These investment projects were planned to be carried out under a joint roadmap.

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