Tashkent, Uzbekistan (UzDaily.com) — During a working visit of the Karakalpakstan delegation, led by Chairman of the Jokargy Kenes Amanbay Orynbaev, to the United Arab Emirates (UAE), a meeting was held with Egyptian entrepreneur and Chairman of the Board of Bell Energy, Haisam Hussein, organized by the Embassy of Uzbekistan in Egypt, Dunyo news agency reported.

During constructive negotiations, the parties discussed the investment potential of Karakalpakstan, its economic indicators, and the possibilities for implementing promising international projects. Special attention was given to Bell Energy’s participation in projects within the region.

Following the dialogue between the Council of Ministers of Karakalpakstan, Bell Energy, and its business partners, five memorandums of understanding were signed with a total value of $660 million.

The agreements envision the implementation of several projects, including the construction of underground petroleum product storage facilities, development of the Kayraktas gold ore deposit, energy production from waste, establishment of bamboo plantations for the production of bioethanol and aviation fuel, as well as a social project aimed at improving children’s welfare.

To ensure successful implementation, the parties agreed to continue coordinating the technical and financial aspects of each project.