During an official visit to Uzbekistan by German Federal Chancellor Olaf Scholz, a financial agreement was reached for the construction of a new copper smelting complex. The visit included a roundtable discussion in Samarkand, where business leaders from Uzbekistan and Germany, including representatives from AGMK, met to discuss bilateral cooperation.
Following these discussions, a loan agreement was signed between “Almalyk MMC” and two German banks, “KfW IPEX Bank” and “AKA.” Under this agreement, the German banks will provide €146mn for the initial phase of financing the new copper smelting facility.
Earlier, President Shavkat Mirziyoyev and Chancellor Scholz held high-level talks in Samarkand, focusing on collaborative projects worth €9bn. Key areas of discussion included energy, machine engineering, construction materials, and various industrial sectors.
The meetings concluded with the signing of eight joint documents, which include:
- Sustainable Water Resource Management: A declaration supporting joint management of water resources to enhance environmental sustainability.
- Critical Minerals: An agreement to collaborate on the exploration and utilization of critical minerals crucial for various industries.
- Transport Development: An accord to improve transport infrastructure and connectivity.
- Technological Partnership: A framework for technological and industrial cooperation between Germany and Uzbekistan, extending to 2026.
