Newsletters
Aksa Elektrik, an electricity generation and distribution subsidiary of Turkish Kazancı Holding, announced Tuesday that it has secured a 30-year concession to operate and modernize the electricity distribution network in Samarkand province, Uzbekistan, under a public-private partnership (PPP) agreement valued at $1 billion.
Under the agreement, Aksa Elektrik will invest $1 billion over the next three decades to modernize Samarkand’s aging electricity grid and strengthen its power distribution infrastructure. The company will be responsible for operating the network and implementing technological upgrades aimed at improving service quality and efficiency throughout the concession period.
The partnership makes Aksa Elektrik the first Turkish company to provide electricity distribution services in Central Asia, according to the company.
The deal was signed during the third International Public-Private Partnership Conference held in Tashkent, Uzbekistan. The event, titled "Mobilizing Private Capital Through Public-Private Partnerships," brought together senior Uzbek government officials, including Deputy Prime Minister and Finance Minister Jamshid Kuchkarov, along with global financial institutions, international experts, and business leaders from multiple countries including Türkiye.
During the signing ceremony, Kazanci Holding Chairman Saban Cemil Kazanci said he welcomed the opportunity to contribute to public-private cooperation in Uzbekistan and emphasized the company’s global footprint. Kazanci Holding currently operates in 24 countries across four continents and provides services in more than 180 countries through a workforce of over 17,000, he highlighted.
"We launched operations in Uzbekistan in 2020. Today, we are the largest Turkish investor in the country, with power plants totaling 1,220 megawatts of installed capacity across Tashkent, Bukhara, and Talimardjan," Kazanci stated. "This experience has deepened our understanding of the country’s energy landscape and strengthened our confidence in its forward-looking reforms. We aim to remain a long-term partner in Uzbekistan’s growth story."
Kazanci Holding is a Türkiye-based conglomerate operating across the energy, agriculture, and tourism sectors, with a particular focus on electricity generation, distribution, and natural gas through its Aksa-branded subsidiaries. Aksa Enerji, the group’s publicly traded energy arm on Borsa Istanbul, Türkiye’s stock exchange, reported a net profit of ₺2 billion ($61 million) in 2024.
According to Forbes Real-Time Billionaires Index, Chairman Saban Cemil Kazanci ranks third among Türkiye’s richest individuals with an estimated fortune of $4.8 billion, while his father, Ali Metin Kazanci—the founder of the conglomerate—also appears on the list, ranking 11th with $2.3 billion.
1 min read
5 min read
