Sea Breeze Uzbekistan Officially Registered as $5 Bn Joint Venture

Sea Breeze Uzbekistan, the company behind the ambitious luxury resort planned on the shores of Charvak Lake, has officially been registered as a joint venture, according to Uzbekistan’s Unified State Register of Enterprises and Organizations (EGRPO).

The registration took place on August 4, shortly after the government issued a decree outlining the measures for the creation of the Sea Breeze resort complex. The project is valued at $5 bn and will span more than 570 hectares of land.

Under the new regulations, any discharge of waste into Charvak Lake or the Chirchik River is strictly prohibited. Violations may result in the immediate suspension of the project and termination of land lease agreements.

As of August 5, the company’s charter capital stood at 400 mln Uzbek soums. Agalarov Development holds a 50% stake, while the remaining 50% belongs to Uzbek businessman Ulugbek Mahmudov.

Environmental and Social Concerns Linger

The Sea Breeze Uzbekistan project has drawn criticism from environmentalists and concerned citizens. Critics warn that large-scale construction could negatively impact the fragile ecosystem surrounding Charvak — a key source of drinking water for the region.

Others have raised questions about the lack of public consultation prior to project approval, noting that local residents were not sufficiently included in discussions about potential long-term impacts.

Kursiv Uzbekistan also reports that Uzbekistan’s solar and wind power stations produced a record-breaking 1.246 bn kilowatt-hours (kWh) of electricity.