SOCAR, AzerGold, Milla: What projects are Azerbaijani companies launching in Uzbekistan?
Azerbaijani companies are developing new projects in Uzbekistan in the oil and gas, mining, construction, and food industries. SOCAR has begun building five gas stations, AzerGold is pursuing exploration and production, and Milla is considering dairy production in Tashkent.
SOCAR, AzerGold, Milla: Azerbaijani Companies Launch New Projects in Uzbekistan
On August 23, in Tashkent, Presidents Shavkat Mirziyoyev of Uzbekistan and Ilham Aliyev of Azerbaijan participated in online opening and groundbreaking ceremonies for several projects being implemented by Azerbaijani companies in Uzbekistan. This was reported by the press service of the President of Azerbaijan.
In particular, the Davr Bank project was officially launched, in which the International Bank of Azerbaijan (ABB) planned to acquire a 51% stake. In May, ABB Chairman Abbas Ibrahimov announced the successful completion of negotiations and that investments under this deal would exceed $100 million.
The Matanat-A gypsum plant and two Landau STEAM schools, created by Landau Education Group, were also commissioned.
Construction of five new SOCAR gas stations (jointly with Uzbekneftegaz) was launched, as well as the Sea Breeze Uzbekistan residential and recreational complex by Agalarov Development, the Baku City residential complex by TuranAZ, a silver ore processing plant as part of the Sur Gold and Silver Project, and the Gold Fresh Fruits orchards.
Mikayil Jabbarov, Azerbaijan's Minister of Economy, speaking at the 4th Forum of Regions of Uzbekistan and Azerbaijan in Tashkent, announced the state oil company SOCAR's plans to enter the Uzbek retail market.
According to him, after entering the market, SOCAR intends to invest in creating its own network of gas stations.
Jabbarov also spoke about the plans of another Azerbaijani state-owned company, AzerGold. It plans to jointly engage in geological exploration and mineral extraction in Uzbekistan with its Uzbek partners.
The minister emphasized that these projects will be implemented directly in the country's regions.
At the forum, Uzbek Minister of Investment, Industry, and Trade Laziz Kudratov announced the interest of the Azerbaijani company Milla in establishing dairy production in Tashkent.
Other project details, including the estimated investment volume, production capacity, and launch timeline, were not specified.
Laziz Kudratov also announced that the Azerbaijani company Gold Fresh Fruit is beginning the second phase of a project to create intensive fruit orchards in the Namangan region. According to him, the second phase will cover 700 hectares and will include the creation of logistics and refrigeration infrastructure.
In turn, Uzbekistan is beginning an agricultural project in Azerbaijan.
According to Laziz Kudratov, Uzbek specialists are beginning the creation of the "Druzhba" intensive fruit orchard in the Fizuli district.
The minister noted that the Syrdarya region and Fizuli district, as well as the Kashkadarya region and Beylagan district, can develop cooperation in horticulture, deep processing of agricultural products, and the production of finished food products.