Uzbekgeofizika and Rosgeology signed a geological services agreement to identify hydrocarbon potential in Uzbekistan Tuesday, according to the Russian holding.
Masdar, a UAE based renewable energy company, will build 500 MW capacity wind power plant in the Navoi province. The signing ceremony of the investment agreement between the UAE company and the Ministry of Investment and Foreign Trade took place on June 8. According to the document, Masdar will design, finance, build and operate the wind farm.
Recent developments: The COVID-19 pandemic has adversely affected Europe and Central Asia through the collapse in global commodity prices, disruptions to global and regional supply chains, and heightened risk aversion in financial markets. The widening of domestic outbreaks of the virus has steepened the decline in domestic demand, exacerbated supply disruptions, and brought much activity to a halt.
In Uzbekistan, production of Volkswagen Caddy light commercial vehicles begins at Jizzakh factory which was built for Peugeot-Citroen plant project which was reported abandoned due to differences.
Turkish Aksa Energy is investing in the 240 MW combined cycle gas power plant project in Tashkent. The project is to be implemented based on the agreement with the Ministry of Energy of Uzbekistan, Dunyo reported.
“At the moment, the Uzbek labor market is under tremendous pressure due to an increase in the number of unemployed. Nearly 400 thousand enterprises temporarily ceased operations or reduced their activity due to coronavirus. Due to the country’s closing, about 150 thousand people lost their jobs, while about 498 thousand returned to Uzbekistan, labor migrants who returned now have no permanent income, more than 200 thousand families are now living below the poverty line,” said First Deputy Minister of Employment and Labor Relations Erkin Mukhitdinov.