As says Hyatt International agency Tashkent city hall and Fund for Reconstruction and Development of Uzbekistan (FRRU) signed the agreement on construction in 2012-2013 of hotel with the cost of US$113.
According to the agreement, the parties plan to carry out construction of hotel of the highest category for 294 rooms in the central part of Tashkent. A new hotel will be put into service in the fourth quarter 2013. In order to realize the project will be created a state unitary enterprise "Poytakhtkurilishvakhizmat" under hokimiyat (city hall) of Tashkent.
Hyatt International will render technical consultation services: in designing period, construction and equipment of hotel, services in hotel management, rights to use HyattRegency trademark,and also provide a gratuitous grant for US$5 million after input of the hotel in operation.
Financing of the project will be carried out for means of the state budget of Uzbekistan in the equivalent of US$ 71 million and the loan of FRRU for US$ 42 million.