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Saudi and Emirati companies are to invest $7 billion in the construction of two windfarms in the Kungrad district of Uzbekistan's autonomous Karakalpakstan republic. The announcement followed the signing of two contracts during the third Tashkent Investment Forum. The commission of the facilities will save almost 7 billion cubic meters of natural gas and prevent the emission of more than 2 billion tons of harmful gases into the atmosphere. Welcoming the initiative, the Uzbek Energy Ministry said, "Saudi company ACWA Power is implementing a megaproject to build a wind farm with a total capacity of 5 gigawatts in the Kungrad district of Karakalpakstan. The project is estimated at $6.2 billion. The station will generate 17.5 billion kilowatt-hours of electricity per year. A wind power plant with a total capacity of 1 gigawatt and a cost of $1.1 billion will be built in the same area by Amea Power from the UAE. It will generate 3.5 billion kilowatt-hours of electricity a year," . During the third Tashkent International Investment Forum, agreements signed by several government and private-sector counterparties, totalled $26.6 billion .
On May 2, Uzbek President Shavkat Mirziyoyev welcomed representatives of several countries to the Tashkent International Investment Forum. In discussion with the Speaker of the Parliament of Singapore, Sia Kian Peng, the two sides focused on cooperation in personnel training, investment, tourism and public safety, and emphasized the importance of joint, effective parliamentary control over their bilateral high-level agreements. During negotiations between Mirziyoyev and the Chairman of the Cabinet of Ministers of Kyrgyzstan Aqilbek Japarov, the two leaders concentrated on deepening strategic partnership between Uzbekistan and Kyrgyzstan, expansion of cooperation in various trade sectors such as industrial, energy, transport and logistics, and marshalling interregional relations and cultural-humanitarian exchange. Special attention was paid to practical issues relating to the Kambarata HPP-1 (hydropower plant) and China-Kyrgyzstan-Uzbekistan railway projects. A delegation led by Prince Abdulaziz bin Salman Al-Saud, Minister of Energy of Saudi Arabia, used the opportunity to discuss the further expansion of practical cooperation, and the implementation of priority investment projects in Uzbekistan. The high level of bilateral trade and investment partnerships already achieved was noted. The portfolio of joint projects currently exceeds $30 billion, with Saudi Arabia's ACWA serving as a keen investor in Uzbek wind power generation. According to data provided by the Uzbek Government, agreements to implement projects worth $18 billion in the fields of green energy, infrastructure, healthcare and pharmaceuticals are set to be signed within the framework of the Tashkent International Investment Forum.
Kazakhstani billionaire Mikhail Lomtadze, co-founder of fintech and banking giant Kaspi.kz, has acquired a controlling stake in the English soccer club Wycombe Wanderers. Following approval by the English Football League (EFL), he joins Eduard Vyshnyakov and Dan Rice as new members of Wanderers' board of directors. The club plays in England's League One (third division) and as a 90% stakeholder, through his company Blue Ocean Partners II Limited, Lomtadze plans to change its development strategy. In an interview with the British newspaper The Sun, he explained, "Our goal is to achieve long-term success both on and off the pitch, while creating a financially sustainable club. The soccer world is evolving very quickly and our priority will be to integrate data analytics and technology to take the club's performance to the next level. I am also a firm believer in youth development and this will be fundamental to the vision of the club. We aim to reopen and build a leading high performance academy, which will be an important part of our long-term strategy to develop a club that consistently performs at the highest level." Whilst Wanderers fans are hopeful for positive changes, in Kazakhstan news of Lomtadze's purchase was met with skepticism. Opinions shared on social media suggest that the online banking magnate's investment would have been better placed in developing local sports. With a fortune estimated at $5.7 billion, Lomtadze ranks fifth in the list of the richest businessmen in Kazakhstan, and in 581st place on the Forbes global list of billionaires.
Kyrgyzstan's national payment system, Elkart, and Uzbekistan's Humo payments platform intend to launch a project on mutually acquiring, or guaranteeing payment security and authorizations according to Kyrgyzstan's Interbank Processing Center (IPC). The agreement was reached at a meeting in Tashkent. "We are going to develop payment systems and create an ecosystem in our countries. This project will open new horizons for the development of not only financial infrastructures of Kyrgyzstan and Uzbekistan, but will also give impetus to the development of many spheres of activity of the two states," said Kanykei Zhamangulova, Chair of the Board of the Kyrgyz IPC. Payment organizations of the two countries have been negotiating a mutual acquiring framework since last summer. At the last meeting in Bishkek, the parties agreed on money transfers and internet payments. "An agreement was reached to start a joint project for step-by-step realization of the set goals and mutual exchange of experience in acquiring, issuing and combating fraudulent transactions," Shukhratbek Kurbanov, director of the Humo payment system, said at the time. Citizens of Uzbekistan and Kyrgyzstan will be able to pay with their cards in the other of the two countries without additional commissions, he said. However, the exact launch date of mutual acquiring services wasn't announced. The cross-border payments plan is advancing as relations between Bishkek and Tashkent were further warmed by the demarcation of the two states' international border. This key step put an end to decades of border disputes that had persisted since the end of the Soviet period.
The Parliament of Kazakhstan has approved an increase in the cost of transit of Russian oil across Kazakhstan to China. At the same time, the volume of transportation will increase to ten million tons annually from the previous figure of seven. The document amends the agreement between Kazakhstan and Russia on the transportation of hydrocarbons through the territory of the Republic. The prior agreement was signed in December 2013. According to the new amendments, the tariff for transit on the pipeline section Tuimazy-Omsk-Novosibirsk (TON) will be set at $2.1 per ton, and through the territory of Kazakhstan - $15 per ton. According to Senator Suindik Aldashev, the agreement will be valid until January 1, 2034. Earlier, Kazakhstan Energy Minister, Almasadam Satkaliev said that Rosneft has signed an agreement with SNPS-Aktobemunaigas, which is controlled by the China National Petroleum Corporation (CNPC), to supply 100 million tons of oil over a period of ten years. The extension of the agreement will ensure that the Pavlodar petrochemical refining plant will be loaded with oil that comes through the Omsk-Pavlodar pipeline. It's forecasted that the Kazakh side's profit from transportation tariffs could reach $1.7 billion.
Kyrgyzstan has again urged its citizens to avoid travel to Russia if possible, citing media reports of “the mass refusal of entry” and saying people should wait until Russia lifts tighter security measures at its border points. Kyrgyzstan’s Ministry of Foreign Affairs “recommends that fellow citizens who do not have compelling reasons to travel to the Russian Federation temporarily refrain from traveling to its territory until the previously introduced additional security measures and the regime of enhanced control of entry across the state border are lifted, and if they need to leave, check in advance for any restrictions on entry to the Russian Federation,” according to a ministry statement on Thursday. The ministry issued a similar call to delay trips to Russia days after gunmen killed more than 140 people at the Crocus City Hall on the outskirts of Moscow on March 22, leading to a backlash of suspicion, harassment and violence in Russia towards Central Asian migrants. Several of the detained subjects were from Tajikistan, which last weekend urged its own citizens to skip travel to Russia “unless absolutely necessary,” amid concerns about hundreds of Tajik nationals who were being held in unsanitary conditions at detention facilities in Moscow airports. Russia has sought to ease tension with Tajikistan, saying anti-terrorism measures were being implemented and that Tajik citizens had not been targeted for mistreatment. Fissures in its relationship with Tajikistan are extremely rare. Russia has also tried to mollify Kyrgyzstan over a Russian police search of the Moscow apartment of a Kyrgyz diplomat last month.
