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Tue 26 Mar 2019 03:13 PM

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Abu Dhabi's Mubadala eyes investment deals in Uzbekistan

Agreements signs to explore future partnerships in conventional power, renewables and oil and gas

Abu Dhabi's Mubadala eyes investment deals in Uzbekistan
Khaldoon Al Mubarak, CEO and managing director, Mubadala Investment Company and Sardor Umurzakov, Minister of Investments and Foreign Trade to the Republic of Uzbekistan concluded an agreement.

Abu Dhabi's Mubadala Investment Company has exchanged a set of strategic agreements with the Republic of Uzbekistan which could lead to investments in key sectors.

The fund will explote future partnerships across the conventional power generation, renewables and the oil and gas sectors of Uzbekistan’s economy.

Khaldoon Al Mubarak, CEO and managing director, Mubadala Investment Company and Sardor Umurzakov, Minister of Investments and Foreign Trade to the Republic of Uzbekistan concluded an agreement, a statement said.

It added that the agreement includes identifying partnership and investment opportunities in the conventional power generation sector in collaboration with Uzbekenergo.

In oil and gas, Mubadala, through Mubadala Petroleum, has reached an agreement to explore potential opportunities in production enhancement across certain oil and gas fields in the Republic, together with refining and petrochemicals.

Official documents were also exchanged pertaining to agreements between Mubadala’s Abu Dhabi Power Corporation, JSC Uzbekenergo and the Ministry of Investments and Foreign Trade to pursue renewable energy projects in Uzbekistan.

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