Economy
Uzbekistan to Purchase High-Speed Trains from South Korea
Uzbekistan has signed a decree to buy six modern high-speed electric trains from a South Korean manufacturer. The decree was signed by President Shavkat Mirziyoyev, as reported by the Ministry of Justice.
On June 14, 2024, an agreement was signed with the South Korean company “Hyundai Rotem.” The project is valued at 220.03 million euros, with an expected completion time of 6 years.
This initiative aims to boost passenger traffic to 1.3 million people annually and create over 300 new jobs. The project is projected to have a payback period of approximately 25.1 years.
The companies JSC “Uzbekiston Temiryullari” and its subsidiary JSC “Temiryulexpress” have been designated as the entities responsible for the proper and efficient use of loans from Eximbank Korea.
Additionally, it was noted that the train was en route from Nokis to the Mangistau region.
