The Committee for Investments, Tashkent City Administration and South Korean POSCO Daewoo signed amendment cooperation agreement for joint implementation of the High Tech City Project, the committee said in a statement.
The agreement will complement the accord signed on November 22, 2017 in Seoul as part of the visit of the President Shavkat Mirziyoyev to the Republic of Korea. The US$ 1.4 billion worth of project provides for setting up of a high-tech district in Tashkent.
As part of the agreement, the parties will form a joint working group and commence the phase I of the project. The group will coordinate the swift and quality implementation of all project phases, selection of a site for construction, preparing of a conceptual plan and a provisiona feasibility study.
The project will be located on 50 ha and will host business centers, apartment houses, research centers, educational, commercial and industrial institutions and other facilities.
The project envisages the use of smart technologies, energy-saving systems and automated systems.
According to the committee, Korean experts studied similar projects, such as Tashkent City and Nurafshon, with four locations being considered for the project.