According to the agency, these funds will be directed to implement textile projects, creation of production capacities at Navoi free industrial and economic zone on production of textile, electrotechnical products and construction materials.

Total cost of these projects makes up about US$300 million. The Fund is participating in cofinancing of the projects.

UzOmanCapital was created in October 2009. Its founders are State Public Reserve Fund of Oman and Fund for Reconstruction and Development of Uzbekistan.

Announced charter capital of the fund is US$500 million. Oman owns 75% stake in the fund and the Uzbek side – 25%. Headquarters of the company is located in Tashkent.

Investment company plans to invest to projects through participation in equity capital, purchase of property to create new companies, providing loans and other financial tools.