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Uzbekistan, POSCO International discuss new agricultural investment projects

19 April 2023 20:11 (UTC+04:00)
Uzbekistan, POSCO International discuss new agricultural investment projects

Deputy Minister of Agriculture of Uzbekistan Umid Mamadaminov held a meeting with the leadership of the cotton and textile cluster created on the basis of investments of the South Korean POSCO International corporation during which they discussed new investment agricultural projects.

During the meeting, the cluster management presented plans to expand activities for the next three years and implement investment projects in the Tashkent, Kashkadarya, and Fergana regions with a total value of $196 million.

The parties discussed the allocation of areas for cotton cultivation in areas where it is planned to implement new projects, as well as the use of arid lands with the use of water-saving technologies.

Furthermore, an exchange of views took place at the meeting on the possibility of restoring abandoned agricultural lands in the Kasan district of the Kashkadarya region and ways of their effective use.

Meanwhile, South Korean POSCO International corporation and Uzbekistan last year signed an agreement worth $65 million on the organization of a cotton cluster in Uzbekistan’s Fergana region.

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