Tashkent:During a recent meeting with foreign investors, President Shavkat Mirziyoyev of Uzbekistan discussed strategies to enhance the industrial and agricultural potential of the Kashkadarya region. The gathering, part of the President’s working visit to the region, emphasized attracting new investments and implementing modern technologies.
According to Azerbaijan State News Agency, the meeting also addressed the development of the strategic partnership between Azerbaijan and Uzbekistan, focusing on economic cooperation. Zakir Ibrahimov, the Chairman of the Executive Board of AzerGold CJSC, presented insights into ‘AzerGold Uzbekistan’ Foreign Enterprise LLC, AzerGold CJSC’s first subsidiary abroad, and highlighted plans for the Akba gold deposit in Kashkadarya.
An initial investment of USD 7.8 million is planned for the project’s preparatory and geological exploration phase, with a total investment expected to reach a minimum of USD 100 million. The project is anticipated to create up to 200 new jobs, with the final investment decision scheduled for 2028. Further geological exploration and evaluations will refine the project’s estimates regarding investment, production, and employment.
The Akba project aims to strengthen Azerbaijan-Uzbekistan cooperation in the mining sector and expand AzerGold CJSC’s international presence. Additionally, collaboration with Uzbekgeologorazvedka Joint Stock Company and the Azerbaijan-Uzbekistan Investment Company is underway, focusing on joint geological exploration and the development of mineral resources in both countries.