Skip to content Skip to Search
Skip navigation

Saudi Arabia and Uzbekistan sign investment deals worth $12bn

By Pramod Kumar
SPA
The mutual trade between Saudi Arabia and Uzbekistan reached $95 million in the first half of 2022, from just $17 million last year

Saudi Arabia and Uzbekistan have signed around 10 investment agreements worth over SAR45 billion ($12 billion), local media reported.

“Over 10 agreements were signed between the Kingdom and Uzbekistan in several sectors, with a value exceeding SAR45 billion,” Arab News reported, citing Saudi Minister of Investment Khalid Al-Falih.

The signed agreements aim to explore investment opportunities and enhance mutual investments in several target sectors such as air transport services, livestock, agriculture, sports, education, science, media, energy and technology, state-owned Saudi Press Agency reported.

Saudi-listed ACWA Power announced plans to sign a $2.4 billion deal for a 1,500MW wind project in Karakalpakstan, Uzbekistan. The project aims to power 1.65 million households and offset 2.4 million tons of carbon emissions annually.

The mutual trade between Saudi Arabia and Uzbekistan reached $95 million in the first half of 2022, from just $17 million last year, SPA reported.

Latest articles

UAE minister of industry and advanced technology and Adnoc group CEO Dr Sultan Ahmed Al Jaber (top centre) will become chairman of AIQ

Presight takes majority stake in Adnoc-G42 AI venture

The data analytics company Presight is acquiring a majority stake in AIQ, a joint venture between Abu Dhabi National Oil Company (Adnoc) and G42. Under the agreement, Presight, an Abu Dhabi-listed company, will own 51 percent of AIQ, with Adnoc keeping the remaining 49 percent, a statement released on Wednesday said.  Previously, G42 held 40 […]

Saudi Arabia is looking to shift traffic to its railways to improve road safety and reduce carbon emissions from car usage

Passenger numbers on Saudi trains leap 23% in a year

Passenger traffic on Saudi railways rose 23 percent year on year to 2.7 million people in the first quarter of 2024, the state operator said this week, as the kingdom pushes to improve infrastructure before a 2030 deadline.  The railway system also saw a 9 percent rise in the volume of minerals and goods transported, […]

Nature, Outdoors, Sea South African hospitality group Mantis announced on Wednesday it will open a resort project on Bahrain’s Hawar Island in partnership with Edamah

Bahrain reveals plans to reach 2026 visitor target

Mumtalakat, Bahrain’s sovereign wealth fund, has been announced as a partner in the development of a new luxury island resort which will open later this year and include a water park and a Bear Grylls Survival Academy. The opening is part of Bahrain’s wider push to expand its tourism offering – with new hotels, beaches […]