Uzbekistan, Sumitomo Corporation, and ACWA Power Sign Agreement on Major Energy Projects
2026-04-09 22:00:00 / News
On April 9, the Minister of Investment, Industry, and Trade of the Republic of Uzbekistan, Laziz Kudratov, held a meeting with the leadership of Sumitomo Corporation (Japan), represented by Hajime Mori, and ACWA Power (Saudi Arabia), represented by Abid Malik.
The Japanese corporation, established in 1919, manages assets totaling 73 billion USD and employs 5.1 thousand staff. ACWA Power has been operational since 2004, with assets valued at 18.7 billion USD and a workforce of 4 thousand employees. The parties signed an agreement for the joint implementation of five large-scale projects with a total capacity of 3.5 GW, valued at 4.2 billion USD.
The participants analyzed the momentum of extensive investment programs aimed at modernizing energy infrastructure. It was noted that collective efforts are yielding significant results in the construction of renewable energy sources. Specific mechanisms were established to accelerate construction activities and optimize commissioning schedules for new capacities.
The Ministry emphasized its commitment to supporting foreign investor initiatives and providing comprehensive assistance at every stage. Representatives of the international firms expressed high regard for the Ministry's ongoing cooperation, which facilitates efficient operational performance.