Saturday, 14, December, 2019

Uzbekistan plans to sell controlling stakes in six enterprises that are part of the Uzkimyosanoat (transl. Uz Chemical Industry) JSC to investors, including foreign ones. This is stated in the April 3 presidential decree.

These are: Ferganaazot (future investor shall upgrade the production capacity of ammonia to 660 thousand tons, urea - up to 600 thousand tons, ammonium nitrate - up to 700 thousand tons and nitric acid - up to 530 thousand tons per year), Samarkandkimyo (subject to setting up of ecofriendly production unit), Birinchirezinotehnika Zavodi, Kungrad Soda Plant (with the condition of expanding production capacity from 200 to 450 thousand tons per year) and Dekhkanabad Potash Plant (with the condition of setting up of production of granulated potassiumchloride, potassium sulfate and other potassium salts)

Packages of shares for sale vary from 51% to 100%.

In addition, 70.54% of government shares in the authorized capital of Quqon Superphosphate Plant have been handed over to Singapore's Indorama at a redemption value at US$ 4.3 million with investment and social commitments to increase the production capacity of superphosphate to 63 thousand tons.

In addition, the document has approved the Chemical Industry Development Program for 2019–2030, providing for the implementation of  US$ 12.1 billion worth of 31 investment projectsn, including US$ 1.7 billion of foreign direct investments and loans.

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