The Cabinet of Ministers issued resolution ordering the hand-over of the Uzbekistan Railways’ stake in UzbeKo’mir (transl. UzbekCoal) state-owned company in the amount of 45% to Progress Gor Tech, a Russian company for trust management, the Uzbek Ministry of Justice said.
Progress Gore Tech will reportedly set up a subsidiary in Uzbekistan to manage the coal company. For the whole period of trust management, UzbeKo’mir will keep the organizational and legal form of the joint stock company.
By the Presidential decree UzbeKo’mir was transferred to Uzbekistan Railways in July 2017.