UNG Overseas, a subsidiary of Uzbekneftegaz, has signed a financing agreement with the US corporation Cargill worth up to $3 bn, with the option to increase it to $5 bn.
The partnership aims to advance projects in the energy sector, water management and environmental protection. Priority areas include enhancing Uzbekistan’s energy security and promoting sustainable development. The agreement also explores financial support for projects ensuring electricity supply to enterprises, modernising infrastructure and improving management of energy and water resources.
UNG Overseas will coordinate cooperation with international partners, while Cargill will provide practical solutions for project implementation.
Kursiv also reports that Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) of Uzbekistan’s state-owned oil and gas company JSC Uzbekneftegaz (UNG) at ‘BB’ with a Stable Outlook.
