Privatization of Ferganaazot to be completed by year-end

Earlier, Shavkat Mirziyoyev instructed to create chemical technology parks in Karakalpakstan, Fergana and Navoi regions. Their participants will receive benefits provided to free economic zones.

The resolution also instructed to speed up the privatization of packages and shares in chemical enterprises owned by the state and the Uzkimyosanoat concern. This move is intended to attract direct investment into the industry and improve the efficiency of companies, Spot says.

The SAMA and other interested departments have been instructed to complete tenders for the sale of assets by October 1, 2023. Agreements with buyers must be signed by this date.

The following assets are subject to sale (the shares in the last three enterprises will be transferred to SAMA):

1. Ferganaazot (99.02% of shares) — until December 2022;
2. First Rubber Plant (100%) — Q1 2023;
3. Dekhkanabad potash plant (100%) — Q2 2023;
4. Kyzylkum phosphorite complex (100%) — Q2 2023;
5. Kimyotrans-logistic (100%) — Q2 2023;
6. Hamkor-kimyoservis (100%) — Q2 2023;
7. Kimyotrans (25%) — Q2 2023;
8. Kimyogartaomchi (100%) — Q3 2023;
9. Osiyo techno-project engineering (51%) — Q3 2023;
10. Kimyosavdota'minot (22.98%) — Q3 2023.

The funds received from the sale of state and Uzkimyosanoat stakes in the authorized capital of Ferganaazot will be distributed equally between the state budget and the Chemical Industry Fund.