TPPs and Uzcard payment system to be privatized in Uzbekistan 

Thermal Power Plants JSC, which owns 6 thermal power plants in Uzbekistan, will be privatized. The State Assets Management Agency announced the engagement of a professional consulting company to develop a privatization strategy. 

Local and foreign applicants can apply within a month, until September 20 at 18:00.

Thermal Power Plants JSC includes 6 TPPs, 3 thermal power centers and 3 organizations providing services to industry enterprises.

The enterprises of the system produced 60.5 billion kWh of electricity and 5.6 million Gcal of heat energy in 2021. This indicator is expected to be 55.9 billion kWh and 5.1 million Gcal in 2022.

By the end of 2021, the company has a net profit of 360.1 billion soums, as well as a charter capital of 13.2 trillion soums.

The State Assets Management Agency also provided information on the process of selling the state share in the Single Republican Processing Center LLC (Uzcard payment system). 

A total of 75% share of 5 state banks in the charter capital of the company was transferred to the Agency and this share will be sold in full. Until now, the independent evaluation organization has assessed the state share and its report has been verified as authentic.

According to the law, if one of the participants of the LLC sells its share, participants of the company have a preferential right against third parties when buying this share. Accordingly, the Agency informed the other participants of the company and the company itself about the possibility of using the preferential right in purchasing the state share.

If other founders do not use the preferential right to purchase, these assets will be publicly traded in the established manner.

Earlier, the State Asset Management Agency announced the engagement of a professional consulting company to develop a strategy for privatization of Uzbekistan Airways.