Egyptian Orascom will build $50 million industrial zone in Navoi region

Orascom Construction plans to build an industrial zone worth $50 million in the Navoi region, Spot reports with reference to the press service of the regional khokimiyat.

On June 12, Khokim of Navoi region Normat Tursunov met with representatives of an Egyptian company to discuss the construction of an industrial zone in the region.

Orascom Construction plans to build an industrial zone for $50 million. The area of the facility will be 200 hectares.

In addition, the regional khokimiyat provided information on land plots suitable for the construction of an industrial zone.

Orascom holding has recently shown interest in several segments of the Uzbek market. During a February trip to Egypt, Minister of Investment, Industry and Trade Laziz Kudratov discussed a number of initiatives with the leaders of the conglomerate.

Thus, Ihab Mahaved, Executive Director of Orascom Construction, announced plans to build an industrial park for the production of paints and varnishes and construction chemicals. Projects in the energy sector, building materials, and road infrastructure were also considered.

Kudratov met with President of Orascom Investment Amjad Sabri. The parties plan to work on projects in the mining and food industries, as well as the construction of hotel complexes.

During a visit with Shavkat Mirziyoyev, Orascom representatives proposed to create a 100 MW wind farm in Uzbekistan. Later, at a meeting with the president in May, the head of the holding, Nagib Sawiris, estimated the package of investment projects at $1.2 billion.