Uzbek Prosecutor's Office seizes Kuvasaycement account
Uzbekistan, Tashkent, July 9 /Trend D.Azizov/
The Uzbek Prosecutor's Office has seized the Kuvasaycement account, a representative told Trend on Monday.
"The reason for the arrest of the enterprise funds were the materials of the audit of financial and business enterprises conducted by Internal Revenue Service," the representative said.
The amount of funds available on seized bank accounts amounted to 45.25 billion soum.
The prosecutor Office noted that the officials of Kuvaysaytsement widely used illegal schemes of tax evasion.
At the moment the criminal case is filled against the plant management, operative-investigative measures are held, prosecution spokesman said.
Kuvasaycement was commissioned in 1932. The plant's capacity is 920,000 tons of cement per year.
Control over the Uzbek cement plant Bekabadcement was transferred from United Cement Group to the Uzbek State Committee for State Property Management.
The reason for this decision was the ruling of Tashkent Province Court for Criminal Cases.
In January, the court sentenced a number of Bekabadcement heads to long terms of imprisonment for financial and tax violations. Due to the significant damage to the state, shares of Bekabadcement owned by UCG, according to the court, are transferred to the State Property Committee.
UCG sent to the Uzbek Building Materials an official letter stating that it intends to appeal the decision of the court in Tashkent, and is considering filing a lawsuit in international court.
Uzbekistan has six cement plants with total installed capacity of around seven million tons. The largest ones are Kizilkumcement (3.15 million tons), Ahangarancement (1.74 million tons) and Kuvasaycement (1.107 million tons).
According to official statistics, in 2011, cement production in Uzbekistan decreased by 1.5 percent compared with 2010 - to 6.698 million tons.