The Spanish company “Maxam”, which owns 49% of the shares of the “Maxam-Chirchik” plant, demands compensation from the government of Uzbekistan for breaching the contract. In response to Kun.uz request, “Uzkimyosanoat” informed that official information will be provided soon.
The Spanish company “Maxam” applied to international arbitration in London to resolve the dispute with Uzbekistan.
According to Eurasianet, the dispute concerns the chemical enterprise “Maxam-Chirchik”, which is owned by the company “Maksam” and the state company “Uzkimyosanoat” in the ratio of 49/51.
It is noted that “Maxam” may be suing the government of Uzbekistan for damages caused by the accusations of continuous violation of the terms of the contract. The press secretary of “Maxam” company did not reveal to the publication what exactly it was about.
“Maxam” hoped to reach a peaceful settlement with the Uzbek government, as it had invested heavily in the country. But the situation reached such a level that they could not solve their problems through dialogue and negotiations. Filing a claim to the International Arbitration Court is their last option,” a source familiar with the dispute said.
Kun.uz contacted Rustambek Eshbekov, press secretary of “Uzkimyosanoat” JSC, to get a comment on the situation. He informed that the company is aware of this situation and accurate information on this issue is being prepared.
"This is an international issue that needs to be clearly justified from a legal point of view. Therefore, it will take some time," the official representative of “Uzkimyosanoat” said.
About “Maxam-Chirchik”
In 2007, 49% of the Chirchik nitrogen fertilizer factory was transferred to the Spanish company “Maxam”. After that, the joint-stock company “Maxam-Chirchik” owned by “Uzkimyosanoat” and “Maxam” was established.
Currently, 51% of “Maxam-Chirchik” JSC belongs to the state company “Uzkimyosanoat” JSC, and 49% belongs to the Spanish company Maxamcorp International S.L.
“Maxam-Chirchik” JSC is one of the largest enterprises in the chemical industry of Uzbekistan, producing more than 40 types of products. It is a natural monopolist in the country for the production of “A” urea.
About “Maxam” company
The history of “Maxam” company began in 1872 when Alfred Nobel, the founder of the Nobel laureate, founded the company “Sociedad Anónima Española de la Pólvora Dinamítica”, a producer of dynamite powder in Spain. Later, its owners and structure changed.
The company specializes in the production of chemical energy materials (explosives, etc.) and is one of the world leaders in mining, civil engineering and weapons. “Maxam” operates in more than 40 countries of the world.
