Russian Novaport holding, which specializes in comprehensive airport development programs and Uzbekistan’s authorities have reached an impasse in negotiations on the reconstruction of several airports (Samarkand, Namangan, Urgench), Trend reports citing Russian media.
The government of Uzbekistan is not ready to give a concession for 30 years, as requested by the investor.
The country's authorities have already begun to search for another investor, having held a meeting with the Japanese Sumitomo Corporation in early December.
However, Novaport has not withdrawn from negotiations and continues to maintain interest in assets. Experts note that Japanese companies are also unlikely to agree on a short term concession.
According to publication sources familiar with the negotiations, the last meeting of representatives of Novaport and the Ministry of Investment and Foreign Trade of Uzbekistan took place about two months ago and stalled on the issue of the concession period.
Novaport signed a framework agreement with the Uzbek authorities in May 2019. The holding’s participation in these projects could be the first step to get Tashkent airport management, one of the last high-return infrastructure assets in the CIS without a private owner or investor.
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