Photo: Press service of the Ministry of Investments, Industry, and Trade of Uzbekistan
Saudi company Riyadh Cables Group will establish a factory in Tashkent to produce high-voltage cable products. Investments in the enterprise will total $122 million, according to the press service of Uzbekistan’s Ministry of Investments, Industry, and Trade (MIIT).
The plant is expected to produce up to 24,000 tons of products per year and create 340 jobs.
MIIT noted that the factory’s launch in the capital follows an agreement signed between Saudi businessmen and the ministry. The deal was reached after a visit by an Uzbek delegation, led by Deputy Prime Minister Jamshid Khodjaev, to Saudi Arabia.
Uzbek representatives also held talks with Saudi Investment Minister Khalid Al-Falih and executives from leading companies in the kingdom. The discussions covered potential cooperation in:
✅ Industry
✅ Energy
✅ Infrastructure
✅ Healthcare
✅ Labor migration
Additionally, a Practical Action Plan was approved, encompassing more than 20 joint projects in energy, water supply, information technology, and agriculture.
