According to the company, tender is announced for construction of two units of 450 MW combined cycle power facilities at Turakurgan power station. The tender proposals will be received till 30 March 2016.

The project cost is US$1.1 billion. The project will be financed due to loan of Japan International Cooperation Agency (JICA) for US$704 million and loan of the Fund for Reconstruction and Development of Uzbekistan – US$300 million, as well as own resources of Uzbekenergo.

First phase of the project on construction of Turakurgan thermal power station (TPS) will be commissioned in 2017.

In the first stage, in 2017, it is planned to commission two modern combined cycle power facilities with a capacity of 450 MW each. In the second stage, in 2020, it is planned to launch two more such facilities.

Construction of the plant will allow to produce 6.8 billion KWH of electricity, which will help to meet growing demand of Ferghana Valley in electricity, including to realize new projects in textile, food, pharmaceutical, construction materials, small and private businesses sector.

(Source: UzDaily.com)

International cooperation

Uzbekistan and Germany amend agreement on avoidance of double taxation

The Ministry of Foreign Affairs of the Republic of Uzbekistan hosted a meeting with the chargé d'affaires of the Federal Republic of Germany Melanie Moltmann, during which the participants exchanged instruments of ratification of the Protocol on amendments and additions to the Treaty between the Republic of Uzbekistan and the Federal Republic of Germany on avoidance of double taxation with respect to taxes on income and property (7 September 1999), signed in Berlin on 14 October 2014.

In accordance with article 4 of this Protocol it shall enter into force on the date of exchange of instruments of ratification, i.e., December 29, 2015.

The document provides entering into the Treaty of new provisions aimed at increasing effective information exchange mechanisms in accordance with international standards of tax transparency, which will contribute to the attraction of mutual investments and development of trade and economic cooperation between companies and entrepreneurs of the two countries.

In addition, this international Treaty serves to further strengthen bilateral cooperation in combating tax offenses and enforcement of tax legislation of Uzbekistan and Germany.

(Source: UzReport.uz)

Farmers to Be Equipped with Know-How

At the beginning of 2016, a consortium of European organizations will launch a project on modernization of agriculture of Uzbekistan through the development of advanced foreign know-how and technologies.

Led by the German Society for International Cooperation, the consortium includes the French non-profit organization Adecia, Italy’s AIA and Bulgaria’s CEED.

Costing €9.3 mln, the project will cover two main areas - animal husbandry and horticulture. It will be completed by the end of 2018, and provide farms in Uzbekistan with direct access of to French know-how and technologies.

In the future, the parties intend to develop a feasibility study for the project to assist farmers through particular action and demonstrations in the field.

In the second phase in 2017 and 2018, the project will be piloted in specified farms and state institutions. They will be provided with funds for purchasing equipment and for the training.

Another important element of the project is aimed at promotion of diversification of local agricultural products. The farmers will receive funds for the purchase of equipment for the conservation, storage, processing and packaging of fruits and vegetables.

Today, the share of agriculture in the country’s GDP has exceeded 15.4%. In the first nine months of 2015, Uzbekistan produced agricultural products totaling over 31.8 trillion soums. (currency rates of CB RU from 31.12.2015 1$= 2809.98 soums)

(Source: «Uzbekistan Today» newspaper)

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