Baku, Azerbaijan, Sept. 28
Trend:
The company SFI Management Group received in fiduciary management 84.6 percent of shares of JSC with foreign capital “Ortachirchiq parranda” (poultry farm in Tashkent region), Uzbek media reported.
The poultry farm has become the third company to be transferred in fiduciary management to the SFI Management Group.
It was earlier reported that founder and head of the Russian JSC USM Holding, Alisher Usmanov, an Uzbek-born Russian business magnate, attracted the SFI Management Group to manage the Uzbek Metallurgical Plant JSC.
After an additional injection of $50 million, production at the plant was resumed. The salaries were increased, the plant started to use methods of corporate governance and financial management. This year the plant expects to produce 1.1 million tons of rolled metal.
Compared to last year, production at the plant is expected to grow 3.5 times, and profits are expected to increase 3.3 times. Expected revenues in the Uzbek state budget will be over 500 billion soums.
(8,079.28 soums = 1 USD on Sept. 28)