In our capital, a Term Sheet was signed between the Azerbaijan-Uzbekistan Investment Company (AUIC), Azerbaijan's "AzerGold" CJSC, and "Uzbekgeologorazvedka" JSC to establish a tripartite joint venture for conducting geological exploration work in Uzbekistan. Held within the framework of the 15th meeting of the Joint Intergovernmental Commission on Cooperation between Azerbaijan and Uzbekistan, the signing ceremony was attended by Azerbaijan's Minister of Economy Mikayil Jabbarov and Uzbekistan's Minister of Investments, Industry and Trade Laziz Kudratov.
The parties plan to jointly carry out geological exploration work in promising subsurface areas of Uzbekistan and prepare economically viable investment projects. The cooperation will also cover exploration and preliminary assessment stages, as well as the systematic preparation processes of transactions for prospective subsurface users and strategic investors.
"We see great potential in the direction of geological exploration in Uzbekistan. The establishment of the joint venture will combine the experience and capabilities of the three parties, allowing us to establish a complete workflow ranging from geological exploration and site assessment to the preparation of investment projects," said AUIC CEO Nazim Hajiyev.
This project expands AUIC's participation in the mining industry, which is one of the company's priority areas alongside logistics, energy, and processing industries. By combining AUIC's investment potential, AzerGold's technical expertise, and Uzbekgeologorazvedka's geological database, the parties plan to comprehensively implement projects ranging from geological exploration to the attraction of strategic investors.
