The Junda oil refinery has re-opened in the city of Kara-Balta, about 100 km west of Bishkek. Zhongda China Petrol Company’s Junda oil refinery resumed operation after a four-year shutdown from February 2020 to March 2024. Late in March this year, the refinery completed a major overhaul and now plans to reach its full annual
A plant for the assembly of China’s SHACMAN heavy trucks and special-purpose vehicles (concrete mixers) has opened in Kyrgyzstan’s capital, Bishkek. At the opening ceremony on August 30, the First Deputy Mayor of Bishkek Mirlanbek Baigonchokov said that the construction of the plant was an important contribution to the development of Kyrgyzstan’s automobile industry. An
The European Bank for Reconstruction and Development (EBRD) says it is helping to decarbonise fertiliser production and power generation in Uzbekistan by financing a pilot renewable hydrogen facility. It will consist of a 20 MW electrolyser and a greenfield 52 MW wind power plant. The EBRD is offering a financial package of US$ 65 million (€ 58
The Asian Development Bank (ADB) on August 28 launched a new country partnership strategy for Turkmenistan designed to help the Central Asian nation develop a competitive, diversified, and knowledge-based economy driven by an innovative private sector. Under the new strategy, covering 2024-2028, ADB’s assistance will focus on three strategic priorities — supporting the green transition to a
The Asian Development Bank (ADB) on August 27 launched a new country partnership strategy for Uzbekistan covering 2024–2028 that will support the country’s reforms to transform into a green and inclusive economy. Under the new 5-year strategy, ADB will work closely with the Government of Uzbekistan to facilitate the central Asian nation’s transition to a green economy,
Kazakhstan’s Deputy Minister of Foreign Affairs Alibek Kuantyrov last week met with President of Carlsberg Kazakhstan Vyacheslav Maltsev to discuss the Danish company’s plans to expand its activities in Kazakhstan and Central Asia. As reported by the Kazakh Foreign Ministry, Maltsev noted the favorable investment climate in Kazakhstan and told about a new Carlsberg Kazakhstan
Kazakhstan’s Ministry of Digital Development, Innovation and Aerospace Industry and Freedom Bank, on one side, and Tajikistan’s Agency for Innovation and Digital Technologies and Amonatbank, on the other side, last week signed a memorandum of cooperation in the development of IT technologies and innovations. The parties agreed to cooperate in the development of digital infrastructure
Kazakh Invest national company and the Chinese company Xinjiang Hengyuan Investment Management Co., Ltd. have signed a Memorandum of Understanding aimed at implementing a large-scale project to create a Kazakhstan-China Trade and Industrial Park in Astana. Xinjiang Hengyuan Investment Management Co., Ltd., based in Baiyang, China, with significant experience in executing similar projects, plans to build the
On August 19-21, a delegation of Kazakh Invest national company headed by the Chairman of the Board, Yerzhan Yelekeyev, visited Germany and held talks with major German companies. As reported by Kazakh Invest, at a meeting with representatives of WIS Kunststoffe Gmbh, which plans to produce compounds and plastics in Kazakhstan’s Atyrau region, the company’s general director, Sigmar
The Uzbek Ministry of Transport on August 20 announced the first container cargo transportation along a new multimodal route from the Indian ports of Mundra, Nhava Sheva and Chennai to Uzbekistan. The cargo was delivered by sea from India to the Iranian port of Bandar Abbas, and then by rail to the Sergeli station in
Uzbekistan President Shavkat Mirziyoyev earlier this week attended the ceremony to launch the construction of wind power plants in the country’s northwestern region of Karakalpakstan. A wind power plant with a capacity of 1 gigawatts and worth $1.2 billion will be built by the Chinese company Sany Renewable in Karakalpakstan’s Kungrad district. Another wind plant
The Keremet Bank in Kyrgyzstan said it suspended money transactions to several major Russian banks, RFE/RL’s Kyrgyz Service reported. Last week, another bank in Kyrgyzstan, MBank, made a similar move. The 24.kg website reported on August 21 that after visiting 16 banks in Bishkek, the news agency’s journalists found that in all, 13 banks have suspended monetary transactions to major Russian
The Asian Development Bank (ADB) on 21 August said it has approved a $17.5 million grant to help improve women’s agricultural skills and boost food security in Tajikistan. The Resilient Livelihoods and Empowerment of Rural Women Project aims to improve productivity of women-led farms, strengthen agriculture processing and storage facilities, and enhance support to vulnerable women in
The Chinese company Zijin Mining Group Co. Ltd plans to invest in developing gold, copper, and polymetallic deposits in Kazakhstan. The project was discussed last week in Astana by Deputy Minister of Foreign Affairs of Kazakhstan Alibek Kuantyrov and Zijin Mining Chairman Chen Jinghe. Zijin Mining is currently searching for a suitable deposit in
The KamaTyresKZ tyre-manufacturing plant in the city of Saran in Kazakhstan’s Karaganda region was put into operation on July 1 and during the first month of its operation produced about 30 thousand tyres, including 29 thousand tyres for passenger cars. The plant is a joint project with Russia’s Tatneft company. The plant’s production capacity is
The United Nations, in collaboration with the Government of Karakalpakstan, announced the launch of two projects to tackle pressing environmental and health issues in the northwestern region of Uzbekistan. The projects, supported by the Multi-Partner Human Security Trust Fund for the Aral Sea Region include: the UNICEF project, “Enhancing Climate-Resilient and Safe Water, Sanitation, Hygiene,
Afghanistan and Uzbekistan signed 35 investment and trade agreements worth $2.5 billion during Uzbekistan Prime Minister Abdulla Aripov’s visit to Kabul on August 17, TOLOnews reported. According to the Economic Deputy of the Afghan Prime Minister’s Office, 12 agreements worth $1.4 billion were signed in the investment sector, and 23 agreements worth $1.1 billion were
The government of Uzbekistan and a consortium of companies including Abu Dhabi Sustainable Water Solutions (UAE), SUEZ (France) and Marubeni (Japan) have signed a Joint Development Agreement for the construction of a new modern wastewater treatment plant in the Kuichirchik district of the Tashkent region, the Uzbek Ministry of Investment, Industry and Trade said. SUEZ
The Eurasian Development Bank (EDB) has released the latest Macroeconomic Review for the Bank’s six member states: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. EDB’s analysts note that most member countries continue to display robust growth: the aggregate GDP of the EDB’s region of operations increased by 4.6% YoY in January-June 2024, after an increase
In the first half of 2024, Kyrgyzstan imported 2.02 billion kWh of electricity, including 909.8 million kWh from Russia and Kazakhstan, 837.5 million kWh from Turkmenistan, and 275.3 million kWh from Uzbekistan, Kyrgyz Minister of Energy Taalaibek Ibrayev told a press conference in Bishkek earlier this month. In 2023, electricity imports amounted to 3.2 billion
