Azernews.Az

Friday March 29 2024

Turkish company to develop two gold deposits in Uzbekistan

26 October 2018 21:36 (UTC+04:00)
Turkish company to develop two gold deposits in Uzbekistan

By Abdul Kerimkhanov

Turkish company and Uzbekistan signed an agreement on the development of two gold deposits.

The State Committee of Uzbekistan for Geology and Mineral Resources and the company TAŞYAPI (Turkey) signed an agreement on the development of two gold deposits in the Samarkand region.

Within the framework of the document, the parties will organize joint exploration and development of the Galabulak and Kushtepa fields.

At the first stage, TAŞYAPI will conduct verification drilling operations at the facilities in order to clarify information on the available resource base and confirm historical exploration data, including use from international standards.

The company will also conduct metallurgical tests for the development of process schedules and will develop a preliminary feasibility study for the development of gold deposits.

Following the results of the positive results of the first stage of the project, the parties will agree on the forms and conditions for cooperation in the development of gold deposits.

There are currently about 500 companies in Uzbekistan with Turkish capital, 100 of which are representative offices. They carry out activities in the sectors of textile, food, hotel management, building materials, plastic, medication, and services. The investments of the Turkish side in the economy of Uzbekistan are about $1 billion.

There are 114 companies in Turkey with Uzbek capital. Only last year more than 20 enterprises with the participation of Turkey's investments were organized and 53 companies were accredited in Uzbekistan.

Since the beginning of 2018, over 230 joint Uzbek-Turkish enterprises have been created in Uzbekistan, and mutual trade has grown by over 40 percent.

In the first half of 2018, Turkey entered the top five foreign trade partners of Uzbekistan. The trade turnover between the two countries amounted to $940 million.

Over the seven months of 2018, Turkey came out on top in terms of the number of new foreign enterprises in Uzbekistan. Some 147 enterprises were established with participation of the residents of Turkey.

Trade turnover between Turkey and Uzbekistan will reach $ 2 billion by the end of 2018.

---

Follow us on Twitter @AzerNewsAz

Loading...
Latest See more