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Formula Sveta, a Russian company, eyes mining investment in Tajikistan’s Sughd region

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Formula Sveta, a Russian company specializing in mining and electrical equipment, has expressed interest in investing in Tajikistan’s mining sector, particularly in revitalizing the Adrasmon mining enterprise located in Guliston, Sughd region. This interest was discussed during a meeting in Khujand between Rajabboy Ahmadzada, chairman of Sughd region, and representatives from Formula Sveta and Orient Investment.

Sergey Isakov, representing Formula Sveta, and Li Kuang Dao, chairman of Orient Investment, participated in the meeting, where Chairman Ahmadzada highlighted the region’s potential and various investment opportunities, emphasizing the mining industry.

Formula Sveta plans to introduce modern equipment and technological lines to restore Adrasmon mining enterprise to its full operational capacity, aiming to enhance operations and expand its footprint in the mining sector through this investment.

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Tajikistan’s mining sector has shown robust growth, with an over 18% increase in output in the past year. In the first four months of 2024 alone, the industry produced goods valued at TJS 4.3 billion ($398.6 million), marking a significant rise from the same period in 2023.

Currently, Tajikistan hosts 21 companies involved in mining and processing minerals, with seven benefiting from Chinese investments. The sector employs approximately 12,500 people, predominantly Tajik citizens, with a notable presence of Chinese workers.

This potential investment by Formula Sveta highlights Tajikistan’s attractiveness for international mining ventures, supported by its burgeoning mineral resources and strategic locatio

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