The key facts
- The meetings took place on October 19 in Samarkand with Jenny Johnson (Franklin Templeton), Rafael Santana (Wabtec) and Mark Kristoff (Traxys).
- The placement of the National Fund's shares on the London and Tashkent exchanges raised nearly $700 million, with demand exceeding supply by more than four times.
- Traxys opened its first regional office in Central Asia in Tashkent; in total, 54 agreements worth $12 billion were signed with the US delegation.
Meetings in Samarkand
On October 19 in Samarkand, President of Uzbekistan Shavkat Mirziyoyev held separate meetings with the heads of the American companies Franklin Templeton, Wabtec and Traxys, the press service of the head of state reported.
Franklin Templeton: transformation and IPO
At the meeting with the president and chief executive officer of Franklin Templeton, Jenny Johnson, preliminary results of the work on the transformation of Uzbekistan's large state-owned enterprises were reviewed. Earlier, the placement of the National Investment Fund's shares on the London and Tashkent exchanges raised nearly $700 million, with demand exceeding supply by more than four times. The next stage should be the transformation of the fund's portfolio companies; its results, as noted at the meeting, should be growth in the population's welfare and improved reliability and quality of services. The importance of expanding citizens' participation in subsequent share placements was emphasized. The parties also discussed the preparation of large companies for IPOs, the professional development of managers, and Franklin Templeton's participation in the work of the Tashkent International Financial Center.
Wabtec: locomotives and service
With the chairman of the board and chief executive officer of Wabtec, Rafael Santana, the president discussed the renewal and expansion of the locomotive fleet, including the supply of locomotives with long-term service maintenance with the participation of US financial institutions, as well as the organization in Uzbekistan of technical maintenance, production of components and personnel training. Issues of creating a service center for open-pit mining equipment and cooperation on diesel generator units were also considered.
Traxys: critical minerals
At the meeting with the chief executive officer of Traxys, Mark Kristoff, joint projects in the field of critical minerals, deep processing of raw materials and the production of high value-added products based on American technologies were discussed. Over the past year, contractual agreements have been concluded with the company, and its regional office — the first in Central Asia — has been opened in Tashkent. Traxys is engaged in the purchase, logistics, financing and sale of metals and minerals and operates in more than 20 countries.
Context: 54 agreements worth $12 billion
Earlier, Gazeta reported that during the visit of the American delegation to Uzbekistan, 54 agreements were signed in the field of trade, investment and technological cooperation, the implementation of which envisions the development of $12 billion. The initiatives with Wabtec are aimed at localizing the production of railway equipment and components, the agreements with Franklin Templeton and other financial companies are aimed at bringing national companies to international capital markets, and the agreements with Traxys and other mining companies concern the study and development of deposits, technological cooperation and the supply of mineral resources.
