As part of a working visit by a delegation from Karakalpakstan led by the Chairman of the Jokargy Kenes Amanbay Orynbaev to the United Arab Emirates, a meeting was organized at the initiative of the Embassy of Uzbekistan in Egypt between the delegation and Egyptian entrepreneur, Chairman of the Board of Bell Energy, Haitham Hussein.

During the constructive negotiations, the parties discussed Karakalpakstan’s investment potential, economic indicators, and the possibilities for implementing promising international projects. The discussion also covered Bell Energy’s potential involvement in prospective investment projects in the region.

Following the dialogue, the Council of Ministers of Karakalpakstan, Bell Energy, and its business partners signed five memoranda of understanding totaling $660 million, providing for the implementation of several projects. These include the construction of underground storage facilities for petroleum products, the development of the Kayraktas gold ore deposit, waste-to-energy production, the establishment of bamboo plantations for the production of bioethanol and aviation fuel, as well as a social project aimed at ensuring the well-being of children.

To implement the signed agreements, the parties agreed to develop and coordinate each project’s technical and financial aspects.

UzA