China’s Silk Road Fund acquires Uzbekistan power plant on Xi’s visit

China’s Silk Road Fund (SRF) has purchased 49% of shares in a $1 billion gas-fired power plant in Uzbekistan from Saudi private operator ACWA Power, further expanding China’s Belt-and-Road investments during President Xi Jinping’s first overseas visit since the pandemic started. The partnership was announced on September 14, the same day Xi began his visit to Uzbekistan and attended the Shanghai Cooperation Organization summit. Under the agreement, SRF will own 49% of the 1.5-gi…