Singapore-based Indorama Holdings gains control over Kokand superphosphate plant

Indorama Holdings gained control over the Kokand superphosphate plant, follows from the company’s data on the single portal of corporate information.

Indorama Holdings, founded in Indonesia in 1975, is a subsidiary of Singapore-based Indorama Corporation. Today, the company manufactures a variety of products, including polyethylene, polypropylene, nitrogen fertilizers, phosphate fertilizers, polyester, polyester raw materials, textiles and medical gloves.

The company became the owner of a 96% stake in the plant, which previously belonged to the State Assets Management Agency (70.5%) and Uzkimyosanoat (25%).

Recently, a list of 546 investment projects that are planned to be implemented in the Fergana region in the coming years was approved.

One of them was the expansion of production capacity of the Kokand superphosphate plant, the initiator of which was indicated as Indorama Holdings. The project is estimated at 581 billion soums, the investment of the foreign company – $70 million. It is expected that the renovated plant will be commissioned in the fall of 2021.

Indorama has been working in Uzbekistan since 2010. In August last year, it became known that the company is investing $335 million in the creation of a cotton cluster that will cover the territories of four regions.