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22 February 2023

Egyptian Orascom may build a 100 MW wind farm in Uzbekistan

Shavkat Mirziyoyev held a meeting with the management of leading Egyptian companies, Spot reports with reference to the press service of the President.

The event was attended by representatives of companies such as Elsewedy Electric, El Araby, Orascom Construction, Poliserve, etc. Also, it was attended by the Minister of International Cooperation of Egypt, Rania al-Mashat, and the head of the federation of chambers of commerce, Ibrahim Mahmoud al-Arabi.

As it was reported at the meeting, in recent years, the trade turnover between Uzbekistan and Egypt has been actively growing, and the number of joint ventures has increased 6 times. The head of state pointed to the potential for further expansion of bilateral ties and investments.

At the business forum held on the eve of the meeting, agreements worth $1.6 billion were signed, the President noted. The agreements cover energy, minerals, construction, pharmaceuticals, the chemical industry, textiles and footwear, and the food industry.

Representatives of the Egyptian business informed the guests about joint projects planned in Uzbekistan. They also noted the opportunity to use the country as a bridge to enter the markets of Central Asia.

One of the leading electrical equipment manufacturers in Egypt, Elsewedy Electric, plans to organize with Uzbekistan the construction of wind and solar power plants, as well as the production of transformers and cables. The company is ready to jointly develop projects in these areas.

Orascom executives expressed their interest in the project of an industrial park for the production of paints and varnishes and chemicals for building materials. In addition, they proposed to create a 100 MW wind farm in the country.