Aliyev, Mirziyoyev launch 7 projects worth $520 mln in Azerbaijan, Uzbekistan

BAKU. Aug 26 (Interfax) - Azerbaijani President Ilham Aliyev and Uzbek President Shavkat Mirziyoyev have launched seven joint projects worth $520 million.

The ceremony for launching the projects took place in Tashkent the previous day during Aliyev's state visit to Uzbekistan, the Azerbaijani presidential website said.

In particular, these projects include the construction of a five-star hotel and a premium-class residence under the Ritz-Carlton brand in Tashkent with a project value totaling $200 million, the construction of a plant for producing gypsum and gypsum board products in the Kamashi district of Uzbekistan's Kashkadarya region with an output of 350 tonnes per day and with a project value of $20 million, and the construction of the Agalarov Development residential complexes in Tashkent with a project value of $133 million.

In addition, a textile cluster is expected to be established in Azerbaijan's Yevlakh district. The project costs $104 million and envisages a full production cycle from the very beginning of cotton cultivation to the production of finished goods. This project is being implemented with the involvement of Uzbekistan's Global Textile.

In addition, a textile factory is expected to be built in the town of Khankendi in Azerbaijan's Karabakh region. The project worth $6 million is under implementation with the involvement of Uzbekistan's Business Tex LLC.

A textile cluster is expected to be created in Azerbaijan's Imishli district. The project costs $54 million and provides for a full production cycle, from dyeing cotton to production of finished goods. The project is being implemented with the involvement of Uzbekistan's TST Group.

Another project, worth $3 million, envisages the development of an Uzbekistan-Azerbaijan friendship garden in Azerbaijan's Fizuli district.