Uzbek state oil and gas company signs deal with Cargill to attract $3 billion in investments

Uzbekneftegaz and Cargill Sign $3 Billion Investment Agreement

TASHKENT, Dec 5 (Reuters) - A subsidiary of Uzbekistan’s state-run oil and gas company Uzbekneftegaz and Cargill signed a cooperation agreement aimed at strengthening Uzbekistan's energy security, under which the parties plan to attract $3 billion of investments, Uzbekneftegaz said on Friday.

Uzbekneftegaz’s subsidiary UNG Overseas and Cargill agreed to attract long-term financing of up to $3 billion, with the possibility of increasing the total limit to $5 billion, the company’s statement said.

According to Uzbekneftegaz, the investments will be directed to projects in household and industrial energy, infrastructure and water management.

The statement did not specify any timeline and future investors.

(Reporting by Muhammadsharif Mamatkulov, Writing by Felix Light, Editing by Alexandra Hudson)