28 May 2025
Karakalpakstan attracts $660 million in investment from Egypt
As part of the working visit of the delegation of Karakalpakstan headed by the Chairman of the Jokargy Kenes Amanbay Orynbayev to the United Arab Emirates (UAE), on the initiative of the Embassy of Uzbekistan in Egypt, a meeting of the delegation with the Egyptian businessman, Chairman of the Board of the company ‘‘Bell Energy’’ Haisam Hussein was organized, the correspondent of ‘‘Dunyo’’ news agency reports.
During the constructive negotiations, the parties discussed the investment potential of Karakalpakstan, its economic indicators and the possibility of implementing promising international projects. The issue of the participation of the company ‘‘Bell Energy’’ in promising investment projects in the region was also considered.
Following the dialogue between the Council of Ministers of Karakalpakstan and ‘‘Bell Energy’’, as well as its business partners, 5 memorandums of understanding were signed for a total of 660 million US dollars, providing for the implementation of a number of projects, in particular the construction of underground storage facilities for oil products, the development of the ‘‘Kayraktas’’ gold deposit, the production of energy from waste, the creation of bamboo plantations for the production of bioethanol and aviation fuel, as well as a social project aimed at ensuring the well-being of children.
To implement the signed documents, the parties agreed to develop and coordinate technical aspects and financial issues for each project.
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