Latest news with #Uzbekistan
CNA
6 hours ago
- Business
- CNA
Russia's Rosatom to explore construction of high-capacity nuclear plant in Uzbekistan
ST. PETERSBURG, Russia :Russia's state nuclear corporation Rosatom signed an agreement on Friday with Uzbekistan's atomic energy agency to study the feasibility of building a large-capacity nuclear power plant in the Central Asian country. Rosatom, which signed the agreement with the Uzbek government at the St. Petersburg International Economic Forum, already has plans to construct smaller nuclear units in Uzbekistan. The Russian energy company was also tapped over the weekend by the government of Kazakhstan to lead a consortium to build the first nuclear power plant there. There are currently no nuclear power plants in any of the five ex-Soviet Central Asian republics, although Uzbekistan and its neighbour Kazakhstan, both uranium producers, have long said their growing economies need them. The Uzbekistan plant will employ two Russian-designed VVER-1000 reactors, with the possibility to scale up to four. Last May, Russian President Vladimir Putin and Uzbek President Shavkat Mirziyoyev agreed on a deal for Rosatom to construct smaller-capacity plants with a capacity of 55 megawatts each in Uzbekistan. On Friday, Rosatom head Alexei Likhachev said Rosatom was discussing building two low-power and two high-power nuclear units in Uzbekistan. "The small modular nuclear power plant in Uzbekistan is the first export product of modern small power plants on the planet," Likhachev told reporters in St. Petersburg. He said the plants would help Uzbekistan respond to its growing electricity needs. He also told journalists the firm had approved a preliminary roadmap with Kazakhstan for two units there using Russian-made VVER-1200 reactors.
Reuters
6 hours ago
- Business
- Reuters
Russia's Rosatom to explore construction of high-capacity nuclear plant in Uzbekistan
ST. PETERSBURG, Russia, June 20 (Reuters) - Russia's state nuclear corporation Rosatom signed an agreement on Friday with Uzbekistan's atomic energy agency to study the feasibility of building a large-capacity nuclear power plant in the Central Asian country. Rosatom, which signed the agreement with the Uzbek government at the St. Petersburg International Economic Forum, already has plans to construct smaller nuclear units in Uzbekistan. The Russian energy company was also tapped over the weekend by the government of Kazakhstan to lead a consortium to build the first nuclear power plant there. There are currently no nuclear power plants in any of the five ex-Soviet Central Asian republics, although Uzbekistan and its neighbour Kazakhstan, both uranium producers, have long said their growing economies need them. The Uzbekistan plant will employ two Russian-designed VVER-1000 reactors, with the possibility to scale up to four. Last May, Russian President Vladimir Putin and Uzbek President Shavkat Mirziyoyev agreed on a deal for Rosatom to construct smaller-capacity plants with a capacity of 55 megawatts each in Uzbekistan. On Friday, Rosatom head Alexei Likhachev said Rosatom was discussing building two low-power and two high-power nuclear units in Uzbekistan. "The small modular nuclear power plant in Uzbekistan is the first export product of modern small power plants on the planet," Likhachev told reporters in St. Petersburg. He said the plants would help Uzbekistan respond to its growing electricity needs. He also told journalists the firm had approved a preliminary roadmap with Kazakhstan for two units there using Russian-made VVER-1200 reactors.
Yahoo
17 hours ago
- Automotive
- Yahoo
Plug Power and Allied Green Deepen Their Strategic Partnership With The Electrolyzer Contract.
Plug Power Inc. (NASDAQ:PLUG) is among the 13 Best Hydrogen and Fuel Cell Stocks to Buy According to Analysts. The firm and Allied Green Ammonia have announced a new 2 GW electrolyzer agreement for a $5.5 billion green chemical manufacturing facility in Uzbekistan at the Tashkent International Investment Forum. A generator being fueled and readied for use as part of an end-to-end green hydrogen ecosystem. This extends the partners' total commitment to 5 GW internationally, adding to the previous 3 GW deal for a green ammonia plant in Australia. The government of Uzbekistan is supporting the project, which would create green diesel, green urea, and sustainable aviation fuel. The signing of the deal was witnessed by Alfred Benedict, MD of Allied Green, and Sanjay Shrestha, President of Plug Power Inc. (NASDAQ:PLUG). The business, standing as a top supplier of electrolyzers for extensive decarbonization, is strengthened by the expansion. Andy Marsh, CEO of Plug Power Inc. (NASDAQ:PLUG), underlined the importance of cross-continental, industrial-scale execution. Alfred Benedict, the CEO of Allied Green, pointed out trust in Plug Power Inc. (NASDAQ:PLUG)'s tested hydrogen technology. The firm's worldwide hydrogen ecosystem supports industrial and energy transition needs on five continents by including production, storage, and transport. While we acknowledge the potential of PLUG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 High-Growth EV Stocks to Invest In and 13 Best Car Stocks to Buy in 2025. Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
2 days ago
- Business
- Zawya
Dubai Chambers hosts Dubai-Uzbekistan Business Seminar
H.E. Mohammad Ali Rashed Lootah: ' Today's seminar creates a valuable opportunity to further build upon the impressive growth in trade between Dubai and Uzbekistan. ' Non-oil trade between Dubai and Uzbekistan achieved annual growth of 66% during 2024 to exceed AED 11.1 billion. The meeting focused on strengthening collaboration, supporting business expansion, and increasing bilateral trade and investments. Dubai, UAE – Dubai Chambers welcomed a high-level delegation from Uzbekistan today led by H.E. Laziz Kudratov, Minister of Investment, Industry, and Trade of the Republic of Uzbekistan, to participate in the Dubai-Uzbekistan Business Seminar. The event, attended by around 100 businessmen, served as a platform to strengthen economic cooperation and explore opportunities to increase bilateral trade and investments. The seminar was attended by senior government officials from Uzbekistan, together with deputy ministers and governors of key Uzbek regions and prominent figures from the Dubai and Uzbekistan business communities. His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: 'Today's seminar creates a valuable opportunity to further build upon the impressive growth in trade between Dubai and Uzbekistan. We are eager to explore new paths for collaboration and investment to drive mutual economic growth. Dubai Chambers remains committed to supporting Uzbek companies in leveraging Dubai's world-class infrastructure and strategic location to accelerate their international expansion.' His Excellency emphasised Dubai Chambers' dedication to supporting the success of the Uzbek business community in Dubai and assisting Uzbek companies in harnessing the emirate's competitive advantages as a hub for connecting with global opportunities. The seminar included presentations on the business and investment landscapes in both Dubai and Uzbekistan, exploring mutually beneficial synergies and promising opportunities in both markets. Discussions also focused on increasing bilateral trade and investments between the two markets. The value of non-oil trade between Dubai and Uzbekistan achieved annual growth of 66% during 2024 to exceed AED 11.1 billion. Key Uzbek exports to Dubai include precious stones and metals, zinc, fruit and nuts, and copper, while Dubai's main exports to Uzbekistan include electronics, machinery, vehicles, precious stones and metals, and perfumes and cosmetics. During the event, the two sides discussed opportunities to boost trade exchange in line with the strengths and areas of high potential in both economies. The sessions during the event also highlighted the strong and growing presence of Uzbek companies in Dubai. By the end of 2024, over 700 Uzbek companies were registered as active members of the Dubai Chamber of Commerce, marking a robust year-over-year growth rate of 34.5%. This upward trajectory has continued into 2025, with over 60 new Uzbek companies joining the chamber during the first quarter alone, bringing fresh momentum to bilateral business ties. About Dubai Chambers Dubai Chambers is a non-profit public entity that supports Dubai's vision as a global player by empowering businesses, delivering innovative value-added services, and unlocking access to influential networks. In March 2021, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the restructuring of Dubai Chamber of Commerce and the formation of three chambers for the emirate, namely Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy, which now operate under the umbrella of Dubai Chambers. Follow us on: For more information, please contact: Mohamad Mouzehem PR & Corporate Communications Email:
Zawya
2 days ago
- Business
- Zawya
Investopia to host inaugural Global Talks in Tashkent in 2026
Event to be held in partnership with Tashkent International Investment Forum 2026 Abu Dhabi: Investopia has signed a Memorandum of Understanding (MoU) with the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan to host the inaugural edition of Investopia Global Talks in Tashkent in 2026. The event will be held in collaboration with the Tashkent International Investment Forum (TIIF) 2026. The MoU was signed by Dr. Jean Fares, CEO of Investopia, and His Excellency Shokhrukh Gulamov, Deputy Minister of Investments, Industry and Trade of Uzbekistan. The strategic partnership establishes a significant platform to strengthen connections and foster engagement between business communities in the UAE, Uzbekistan, and across Central Asia. Investopia – Tashkent will offer a dynamic venue for exploring promising economic and investment opportunities in the new economy sectors of the UAE, Uzbekistan, and broader Asian markets. The initiative also aims to promote impactful public-private partnerships and channel investments into key sectors in both the UAE and Uzbekistan, while shaping emerging trends in investment and finance across the region. TIIF, held under the patronage of the President of Uzbekistan, is one of Central Asia's premier investment forums, which makes it an ideal partner for Investopia Global Talks. H.E. Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan, said: 'In 2026, Tashkent will host the first edition of Investopia Global Talks in Central Asia, in collaboration with TIIF. Launched by the UAE, Investopia is a global investment platform that connects investors, governments, and enterprises to new economic opportunities. Previous editions have been held in cities such as Tokyo and Milan. The Tashkent edition will convene investors, decision-makers, and business leaders to explore opportunities in renewable energy, digital technologies, infrastructure, and agriculture, serving as sectors that are pivotal to Uzbekistan's economic growth. This collaboration represents a significant step toward positioning Uzbekistan as the region's key investment hub and building long-term relations across markets.' H.E. Mohammed Alhawi, Undersecretary of the Ministry of Investment, emphasized that the UAE and Uzbekistan share robust strategic ties and outstanding economic partnership across diverse sectors. 'Through the new edition of Investopia Global Talks in Tashkent, we aim to enhance economic and investment collaboration, unlock new development avenues for the UAE and Central Asian business communities, and advance sustainable economic growth in line with the goals of the 'We the UAE 2031' vision.' Dr. Jean Fares, CEO of Investopia, said: 'The UAE and Central Asian countries possess promising economic and investment opportunities, particularly in emerging and new economic sectors. We are confident that Investopia – Tashkent will play a pivotal role in connecting Asian business communities with these ambitious opportunities by facilitating effective dialogue among business leaders, decision-makers, and investors. It will also explore new pathways for enhancing mutual investment and trade flows and share insights on the latest policies and strategies related to global trends in finance and investment.' The fourth edition of TIIF showcased Uzbekistan's investment opportunities, particularly in the energy, agriculture, industry, tourism, and infrastructure sectors. The forum attracted over 7,500 participants from over 100 countries, including nearly 3,000 guests of honor. For further information, please contact: Orient Planet Group (OPG) Email: media@ Website:
