One of the oldest companies of Karakalpakstan sells 30% of shares; Ritz-Carlton will build a hotel on the territory of Tashkent City; USAID providing support to agricultural sector of Uzbekistan; Uzbekneftegaz launches gas extraction at new deposit; International Monetary Fund: US Dollar is overestimated by 8-16%; Korean data agency donated IUT software worth of $ 500 thousand.
One of the oldest companies of Karakalpakstan sells 30% of shares
Karakalpakboyan offers 30% of the company’s shares for 3 billion soums.
The enterprise was founded in 1963, 16 thousand hectares of agricultural land are on the balance.
The production capacity of 2 thousand tons of pressed and 200 tons of selected licorice root is 12% moisture. The products are exported, including to Russia.
Ritz-Carlton will build a hotel on the territory of Tashkent City
The Ritz-Carlton Hotel Company will enter the Uzbek market with a five-star hotel. More than 1.5 hectares of land have been allocated for the project. The 200-meter building will be the tallest building in Uzbekistan and throughout Central Asia.
Murad Buildings will be engaged in construction. The Japanese design organization Nihon Sekkei undertook the development of the interior design. The exterior architecture and design of the multifunctional complex is handled by the international architectural bureau DP Architects.
USAID providing support to agricultural sector of Uzbekistan
The assistance is provided in establishing links between Uzbek companies and American suppliers of new materials and equipment, as well as the entry of these companies into new international markets so that they can increase exports of their products. Gold Dried Fruit Export LLC (GDF) is one of such companies.
In order to expand the markets of GDF, USAID put the company in touch with potential buyers in export markets and provided advice on improving the quality of products. GDF signed letters of intent to export products with six Latvian and Lithuanian companies, worth over $17 million, as a result of a trade mission and a study tour on transport and logistics in the Baltic states, organized by USAID on April 9-14.
Uzbekneftegaz launches gas extraction at new deposit
Uzbekneftegaz launched gas and condensate extraction at the second well of the Kuyi Surgil deposit. At present, gas condensate studies are being conducted at the well and work on testing possible productive horizons will be completed within one month. For further exploration of the field, the third well is being drilled and the fourth one is planned.
It will allow the national company to enter new stage in the extraction of “blue fuel”, as this will be for the first time in the country when natural gas deposits located in the Lower Jurassic deposits will be developed.
International Monetary Fund: US Dollar is overestimated by 8-16%
The rate of the American currency is overestimated by 8-16% compared to the fundamental values, according to the International Monetary Fund.
The weakening of the American currency reduced this gap, experts of the fund note. In a previous review in July 2017, the fund estimated the overvaluation of the US currency at 10-20%.
Korean data agency donated IUT software worth of $ 500 thousand
South Korean Agency Korea Data Agency (K-Data) donated to Inha University in Tashkent (IUT) software for monitoring and analysis of a database worth about $ 500 thousand.
Korea Data Agency is the state agency of the Republic of Korea, which is responsible for developing the data industry.