Uzmetkombinat transfers its shares in Uz-Shindong Silicon JV to SAMA

The company withdrew from the authorized capital of the Uz-Shindong Silicon JV, having alienated a 25% stake ($1.215 million). The decision was made in accordance with the presidential decree of October 2020, Spot writes.

The Uzbek-Korean JV Uz-Shindong Silicon was founded in 2008. The company is engaged in geological exploration of deposits of quartz, quartzites and silicon crystals, as well as organizing the production of technical silicon and ferroalloys.

Initially, its founders were the State Committee for Geology and the South Korean Shindong Enercom Inc. In 2012, Uzmetkombinat and a subsidiary of Shindong – Solartech LLC were added to them.

In August 2012, the company launched the first complex in Uzbekistan for the production of technical silicon in Navoi region. Two years later, in 2014, the joint venture commissioned a second plant in Angren.

In addition to the silicon company, Uzmetkombinat gave SAMA shares in 6 more enterprises:

LLC Bekobod G'isht Invest (brick production) - 100%;
LLC Bekobod - Matbuot (printing house) - 94.3%;
Donata Pharma LLC (pharmaceuticals) - 100%;
LLC UMK Bekobod Chorva (milk processing, production of cheese and dairy products) - 100%;
LLC Bekobod UMk Parranda (poultry farm) - 100%;
LLC UMK Yangiobod Chorva (vegetable growing) - 100%.

Now the plant's investment portfolio includes 14 business entities – mainly subsidiary trading houses, minority stakes in banks and other companies.