Seoul: South Korean investments in Uzbekistan have reached the figure of $5 billion after Hyundai Engineering signed a deal worth $819 million as part of a consortium to build two power plants in Uzbekistan.
Daiwoo International Corp that is already the leading manufacturer of automobiles in Uzbekistan along with Hyundai has gone for a deal on Wednesday with Uzbek state energy holding company Uzbekenergo to build two combined cycle power plants. Daewoo served as coordinator to secure the contract with Uzbekenergo (Uzbek state company), according to Hyundai.
Power plants will be on “turn-key projects” and will be built in Talimarjan in the southwest Kashkadarya region with a generating capacity of 450 megaWatts. Consortium is funded by Asian Development Bank (ADB), the Japanese International Cooperation Agency (JICA), and the Fund for Reconstruction and state agency of Uzbekistan.
