State shares in “Fargonaazot”, “Kyzylkumcement”, Coca-Cola Uzbekistan put up for sale

President Shavkat Mirziyoyev signed a decree on measures to further improve the mechanisms for attracting foreign direct investment in the economy of Uzbekistan, which provides for the sale of state-owned shares in 29 large industrial enterprises and banks.

The list includes state-owned blocks of shares in the authorized capital of economic entities in the chemical, oil and gas industry, mechanical engineering, banking and insurance organizations. Among the largest are JSC “Fargonaazot” (48.05%), “Kyzylkumcement” (35.9%), Kungrad Soda Plant (51%), Dekhkanabad Soda Plant (over 51%), Angren Thermal Power Plant (99%), “Kvarts” (74.98%), Coca-Cola Uzbekistan (57%), Novo-Angren TPP (99.59%) and others.

The President instructed the State Commission, within two weeks, to determine the market value of the shares and conduct tenders for the sale of state property to potential investors.