Egypt Invests $660mn in Karakalpakstan

Egypt will invest $660 mln in Karakalpakstan, according to the Dunyo news agency. The Cabinet of Ministers of the Republic signed five memorandums of understanding with Bell Energy and its partner companies.

The agreements were signed during a meeting between Amanbay Orynbaev, Chairperson of the Jokargy Kenes (Parliament) of Karakalpakstan, and Haitham Hussein, Chairman of Bell Energy.

Under the deal, Bell Energy will implement several projects in the region, including waste-to-energy electricity generation, the construction of underground oil storage facilities, and the development of the Kairaktas gold deposit.

In addition, the Egyptian company plans to establish bamboo plantations in Karakalpakstan, which will be used to produce bioethanol and aviation fuel.

The region will also launch a project aimed at supporting child welfare, with Bell Energy’s participation.

Earlier, Kursiv Uzbekistan reported that Egypt had delivered hepatitis medicines to Uzbekistan.