Latvian company intends to increase investments in Uzbekistan through the implementation of a new project

Ambassador of Uzbekistan Kadambay Sultanov met with Janis Vilgerts, chairman of the board, director of the Latvian company BAO, the correspondent of “Dunyo” news agency reports.

BAO was established in 1995. It is one of the largest Latvian companies providing a full cycle of services related to the collection, reliable transportation and disposal of hazardous waste, and the maximum reduction of environmental damage. The company is currently implementing an investment project to develop phosphorites in Uzbekistan for a total of $30 million.

Janis Vilgerts positively assessed the large-scale transformations being carried out in Uzbekistan, including favorable conditions created in the republic for foreign investors.

During the conversation, Janis Vilgerts voiced his readiness to start increasing investments in Uzbekistan through the implementation of an additional project “Construction of a phosphorite processing / enrichment plant”. According to preliminary calculations, the construction of the plant is estimated at $12 million, all of which is foreign direct investment.

Following the meeting with Janis Vilgerts, an agreement was reached on organizing his visit to Uzbekistan on July 19-21 and meetings with responsible representatives of the relevant ministries and departments of the republic.