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State Development Corporation “VEB.RF” intends to be present in the economy of Uzbekistan with projects worth $ 8 billion

“VEB.RF”  intends to continue active cooperation with Uzbekistan in existing projects, as well as develop a new partnership, the total cost of which is estimated at $ 8 billion.

This was stated by the head of the state corporation Igor Shuvalov, RIA Novosti reports.

“We are actively cooperating with Uzbekistan. We already have a metallurgical enterprise, supply rolling stock for the needs of the Tashkent metro, signed an agreement on the modernization of the gas transportation system, on the development of the field. We see projects worth $ 8 billion,” Shuvalov said, speaking at the Federation Council.

In April, within the framework of the Innoprom exhibition in Tashkent, VEB, Gazprombank and Surhan Gas Chemical Operating Company signed basic indicative terms for financing the development of the 25 Years of Independence gas field.

The total amount of the signed agreements amounted to $ 900 million.

The Russian Federation, meanwhile, remains one of the largest investment partners of Uzbekistan – to date, Russian companies have already invested over $ 10 billion in the republic’s economy.

At the end of 2020, Russia took the second line in the list of the largest partners of Uzbekistan (the first place belongs to China) with a share of 15.5% in its total foreign trade turnover.