Authorities accused Akhmet Demir of failing to fulfill investment obligations on the hotel “Chorsu”

A Turkish businessman Akhmet Demir has not yet fulfilled his investment obligations on the hotel “Chorsu”. This was stated by the First Deputy Minister of Economy and Industry Ravshan Gulyamov, Kun.uz correspondent reports.

In September 2017, the company “Demir Group” acquired the right to build the hotel “Chorsu” at a nil redemption value with the condition of fulfilling investment commitments in the amount of not less than $33 million. However, according to Mr. Gulyamov, the investor “did nothing”.

“He promised to build a 4-star hotel with the participation of $30 million foreign investments. Instead of fulfilling promises, he begins whining that the Uzbek banks did not give money, that’s why the deadlines are being broken. Why here the Uzbek banks should be blamed? The investor has to meet his obligations,” First Deputy Minister said.

Earlier, the Turkish entrepreneur said that he still cannot solve several problems, despite the fact that the hotel is scheduled to be commissioned by the end of this year.

“The biggest problem is paperwork. We need an additional territory, because it will be a 4-star hotel and there will be 350 rooms. Foreign partners noted that for high-quality service in such a large-scale building 2 hectares of adjacent area would not be enough. We appealed to the Tashkent city administration and other authorized bodies with a request to allocate additional territory. They promised us to allocate 3 hectares of land, even the relevant instructions of the president were issued,” Akhmet Demir noted.

According to the Turkish businessman, the president’s order has still not been fulfilled.

“The work is slowing down. When I go to bank to apply for a loan, I take with me two cadastral documents. And the bank asks “where are the documents for this territory, which is indicated in the business plan?” I say that relevant organizations will prepare the documents later. But the local bankers also perfectly know how to “do it later”, this may “never happen”, the businessman said.