“Uzbekkumir” transferred to trust management of Russian company

President Shavkat Mirziyoyev signed a decree “On measures to improve management efficiency of the JSC Uzbekkumir”, the Ministry of Justice reports.

According to the document, for the trust management with the transfer of a 45% stake in Uzbekkumir, a subsidiary economic trust management LLC “ProgressGorTech” (Russian Federation) will be attracted.

Also, in compliance with the decree, the JSC “Uzbekkumir” is allowed, on an exceptional basis, in the period before transferring shares to trust management, in coordination with “ProgressGorTech” to conclude direct supply agreements on the basis of the most optimal offers for the purchase of ore-transport and auxiliary equipment, technological equipment that have passed the relevant expertise, without tenders.

Now the price of coal will be formed on the basis of operating expenses, capital expenditures and at least 10% of the profitable level. Additionally, it will be revised in accordance with the revision of prices for fuel and energy resources.