The State Assets Management Agency has announced a selection of consulting companies to develop privatization strategies of Uzbekistan Airways and Thermal Power Plants.
The April presidential decree instructed to begin work on putting up for auction the 51% gov’t stake in Uzbekistan Airways by September 1, 2022, including through an IPO.
The same document launched the start the privatization of JSC Thermal Power Plants by the end of the year.
Uzbekistan Airways
Uzbekistan Airways flies to more than 50 destinations, including countries in Europe, Asia and North America, with representative offices in more than 20 cities around the world.
The company includes Uzbekistan Airways Technics (aircraft maintenance), Uzbekistan Helicopters (special aviation), O'quv-Mashgulot Markazi (educational activities) and Catering (flight meals) companies.
In 2021, the company's net income topped 6.3 trillion soums, net profit - 53.7 billion soums.
Consultant will be required to analyze the civil aviation sector, the region and the world, and develop a privatization strategy for Uzbekistan Airways.
Thermal Power Plants (TPP)
Thermal Power Plants performs the function of generating electricity and thermal energy for the economic sector and households.
The company includes 6 thermal power plants, 3 thermal power plants and 3 service companies.
In 2021, TPP’s enterprises generated 60.5 billion kWh of electricity and 5.6 million Gcal of thermal energy.
In 2022, generation should amount to 55.9 billion kWh of electricity and 5.1 million Gcal of thermal energy.
In 2021, the company's net profit amounted to 360.1 billion soums.
Consultant will be required to conduct an analysis of the electricity sector in Uzbekistan, as well as develop a privatization strategy for TPP.
Bids from consultants for Uzbekistan Airways will be accepted until September 17, for thermal power plants - until September 20.
