Miahona inks 2 MoUs to develop projects in Uzbekistan

Logo of Miahona. The  new agreements support the company's expansion strategy

Miahona Co. signed, on Sept. 4, two memoranda of understanding (MoUs) to develop new projects in Uzbekistan.

In a statement to Tadawul, the company said that the first MoU was signed with the Ministry of Investment, Industry, and Trade and the Ministry of Water Resources of Uzbekistan.

For more news and details on the projects

The MoU deals with the rehabilitation and/or replacement of a list of identified pumping stations for irrigation water in Karakalpakstan through a long-term rehabilitate, operate, and transfer (ROT) model.

Meanwhile, the second MoU was concluded with the Ministry of Investment, Industry, and Trade of Uzbekistan, the Supreme Council for Karakalpakstan and Uzsuvtaminot Joint Stock Co.

It will focus on collaboration for exploration and development of water and wastewater treatment infrastructures, as well as water distribution in Karakalpakstan.

During the development phase, the entities will adopt the most suitable long-term business model for each project.

The MoUs aim to solidify Miahona’s position in Uzbekistan, with a specific focus on strategic water infrastructure in Karakalpakstan.

The first MoU sets the foundations for a collaboration in the space of rehabilitating and operating water irrigation network infrastructures, while the second paves the way for exploring new opportunities in the potable water treatment and distribution, as well as in the wastewater sector in the Republic of Karakalpakstan.

The company stated that the duration of the MoUs is one year or any later date that may be agreed upon, adding that the financial impact of the MoUs will be determined at a later stage after completion of the due diligence.

These MoUs support Miahona's expansion strategy and strengthen its presence in international markets, as it continues to provide sustainable water solutions through its existing projects within the Kingdom.

According to data available with Argaam, Miahona announced last September the signing of a development agreement with the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan and the joint-stock company Uzsuvtaminot to define the frameworks for cooperation in developing water and wastewater treatment plants in the Fergana Valley and Jizzakh region.