A presidential decree “On measures to create a cluster of agricultural machinery in the city of Chirchik” was adopted.
As Norma reports, the relevant management bodies of JSC “Tashkent factory of agricultural machinery”, JSC “Aggregate Plant”, JSC “Tekhnolog”, LLC “Tekhnolog-Stan”, LLC “Agrosanoatmashinvest” adopted the decision on reorganization of enterprises and relocation of part of production facilities to the territory of Chirchik Agricultural Machinery Plant JSC in Chirchik.
On their basis, a cluster of agricultural engineering is being created. Also, LLC “Tashkent Tractor Plant” (LLC TTZ) is being created. The state’s shares in the authorized capital of Chirchik Agricultural Machinery Plant JSC and the above-mentioned enterprises are transferred to it at par. The state share in LLC TTZ is transferred to the trust management of JSC Uzavtosanoat for a period of 2 years.
The State Assets Management Agency sells the released land areas, buildings and structures belonging to enterprises in electronic online auction auctions. The funds received from their sale are transferred to a separate treasury current account of LLC TTZ.
To finance the costs associated with the relocation of enterprises to the territory of Chirchik Agricultural Machinery Plant JSC, the acquisition (if necessary) of shares owned by shareholders demanding the buyback of their shares, the Ministry of Finance will provide TTZ LLC with a loan of 100 billion soums at the refinancing rate of the Central Bank. The loan has a maturity of 1 year. It is covered by funds received from the sale of the released assets in electronic online auctions.
From January 1, 2022, the following subsidies for agricultural machinery supplied to consumers have been allowed by domestic manufacturers who have reached a localization level of at least 25%, or by their authorized dealerships:
ꞏ subsidies in the amount of 15% of the cost of agricultural machinery. They are used primarily to pay off debt on loans or leasing attracted for the purchase of agricultural machinery;
ꞏ subsidies for interest expenses in the purchase of agricultural machinery based on the terms of a loan or lease. At the same time, a part of interest expenses exceeding 10 percentage points is covered by the fund for state support of agriculture under the Ministry of Finance at the expense of the state budget.
As an exception, until December 31, 2023, the allocation of subsidies also applies to agricultural machinery supplied by enterprises relocated to Chirchik and located in Tashkent Agricultural Machinery Plant JSC and on its territory on the basis of lease agreements.
