Uzbekistan and India prepare joint projects for iron ore, coal development, and copper exploration

The Minister of Energy of Uzbekistan, Sherzod Khodjayev, told the O’zbekiston 24 channel that Uzbekistan has provided Indian companies with the opportunity to participate as investors in five energy projects totaling $3.4 billion.

Previously, Indian companies had already worked within Uzbekistan's energy projects as contractors, and their combined portfolio exceeds $2 billion. Now, the minister stated that Uzbekistan is considering the option of directly involving these companies in financing new initiatives.

The proposed package includes the construction of high-voltage transmission lines, hydroelectric power plants, and thermal power plants. Necessary surveys are currently being conducted for the implementation of these projects.

Specifically, the construction of pumped-storage hydroelectric power plants is planned in the Karakalpakstan and Tashkent regions. Another project involves building a thermal power plant in the Suniyordon region. Additionally, Uzbekistan proposes creating a high-voltage transmission line network across the Kamchik Pass to connect the Tashkent and Namangan regions. A separate project concerns a high-voltage transmission line between the Navoi and Tashkent regions.

The projects must pay special attention to localization. Khodjayev emphasized that the majority of jobs should be provided to Uzbek citizens. It is proposed that local companies be entrusted with at least 50% of the design work, and the share of products manufactured in Uzbekistan should reach 70%.

The minister noted that Indian companies are being considered due to their experience and technical expertise in managing large-scale energy projects. Khodjayev added: 'They have the necessary experience, whereas our teams for managing such megaprojects are not yet fully formed, so their main assistance will be precisely in these areas.'

Deputy Prime Minister of Uzbekistan Jamshid Khojaev announced on his LinkedIn page the preparation of a visit by a delegation of the Government of Uzbekistan and the holding of a business forum involving leading companies from both countries.

Khojaev discussed the details of the upcoming visit with Muhammad Mudassir Tipu, the Pakistani Ambassador to Uzbekistan.

The planned visit includes holding a business forum that will gather representatives of major companies from Uzbekistan and Pakistan. According to Khojaev, there is significant unrealized potential between the two states for expanding cooperation in the fields of trade, economy, investment, and industry.

Key tasks that need to be addressed include turning existing opportunities into concrete projects, establishing direct business contacts, and increasing the efficiency of trade routes. The parties also discussed the possibility of increasing preferential trade between the countries; as of August 14, the current preferential regime covers more than 80 commodity categories.

Transport connectivity was an important area of discussion. The possibility of creating new transit corridors through Pakistan was examined. The Deputy Prime Minister noted that such routes would reduce delivery times and logistics costs while expanding access for Uzbek enterprises to South Asian markets.

It is expected that the upcoming visit of the government delegation and the business forum will serve as a platform for further strengthening direct business ties and discussing specific aspects of economic, trade, and investment interaction.

Uzbekistan is studying the potential of participating in the project to build a new oil refinery located in Azerbaijan. According to the proposals, some of the fuel produced at this plant could be directed to meet the needs of the Uzbek market.

Energy Minister Sherzod Khodjayev announced this initiative. He specified that the parties are also negotiating the possibility of joint production of petroleum products at facilities in both countries.

According to the minister, such cooperation will help supply Uzbekistan's domestic market with necessary fuel more stably. In addition, the countries are actively promoting the project for hydrocarbon development in the Ustyurt Plateau and are working with Kazakhstan to export 'green' electricity produced in Uzbekistan to Europe.

Earlier, an agreement was announced between Uzbekneftegaz and the Azerbaijani company SOCAR regarding the study of the possibility of creating a modern network of gas stations in Uzbekistan.