Andijan Biochemical Plant privatized for 101 billion UZS

The Andijan Biochemical Plant has been privatized, according to the State Assets Management Agency.

The deal was supported by the consulting company Abrau Capital. The SAMA accepted the proposal to sell the state-owned shares as a single package, which amounted to 96% of the shares.

The winner of the auction was the company Jasmin Gold Group, which offered 101.3 billion UZS for the asset. The amount was at the upper end of the indicative price range calculated by the consultant.

The State Assets Management Agency believes that the buyer has "the potential to form a complete production cycle." The deal has already been approved by the State Privatization Commission.

According to the Unified State Register of Legal Entities, the company Jasmine Gold Group was established in Karakalpakstan in 2016, and its main activity is the production of textile products. The company is 50% owned by Saidulla Yusupov and Husniddin Turakulkhodjaev.

The Andijan Biochemical Plant has been producing alcohol, yeast, and other products since 1953. In the 1990s, the enterprise underwent reconstruction, and since 2000, it has become a joint-stock company as part of "Uzspirtprom" (now "Uzsharobsanoat").

The plant can produce up to 1.83 million decaliters of alcohol per year, while the actual production volume in 2023 was about 1 million decaliters. The company's net profit amounted to 10.1 billion UZS, with assets totaling 71.5 billion UZS and liabilities of 17.3 billion UZS.