President Shavakt Mirziyoyev signed a decree approving the privatization of FerganaAzot, the largest manufacturer of nitrogen fertilizers in Uzbekistan.
The state’s share in Samarkandkimyo JSC, Electrokhimzavod JSC, and Jizzakh Plasmassa JSC will also be put for sale at market value. In addition, the decree instructs to put for sale unused facilities (including shops, facilities and adjacent territories) of JSC Ferganaazot with a total area of 6.5 hectares at the industrial site No. 3 at a zero redemption value with the condition of investment commitment.
The Cabinet of Ministers must by April 15, 2019 submit proposals on reforming the chemical industry and enhancing its investment attractiveness, taking into account the recommendations of international consulting companies.
From 2020, joint-stock companies that are part of Uzkimyosanoat JSC will start publishing annual financial statements and conduct external audit in line with International Auditing Standards and International Financial Reporting Standards.