Canadian company Condor Energies Inc. plans to invest $582 million in hydrocarbon raw material extraction (oil and gas) at the "Kumli" deposit located in the Bukhara region, Spot reports.

Over the past seven years, the Bukhara region has attracted $4 billion in investments. As a result, 90 thousand jobs were created with an export potential of $1.8 billion. This year, the region will implement 607 projects worth $1.3 billion.

In the Bukhara region, 80 projects totaling $14 billion have been formed, which can be implemented by foreign and local investors.

During his visit to the region, Shavkat Mirziyoyev was presented with 14 projects worth $4 billion. The projects span various industries, including building materials production, electrical engineering, chemistry, textiles, food products, pharmaceuticals, medicine, mining, and aquaculture.

Investors are companies from China, Russia, Turkey, Germany, Saudi Arabia, India, Malaysia, South Korea, and Iran. For instance, a Chinese company could build a 600 MW wind power station in the Gijduvan district.

Malaysia's Mam Minerals plans to develop a graphite deposit and produce batteries for electric scooters in the Peshku district.

With the participation of Iranian companies, a chemical cluster is planned to be created in the Bukhara district. As a result of the implementation of 80 investment projects, more than 22,000 new jobs will be created.

The president gave instructions to increase the production of high-value-added products and localization, as well as to develop the service sector.

In February, Condor Energies signed a new contract in the gas extraction sector with the government of Uzbekistan. The agreement was expected to increase fuel production in a cluster of eight gas condensate fields.