Baku, Azerbaijan, July 2
By Fakhri Vakilov- Trend:
Uzbek SFI Management Group intends to create two companies - Vodiy Investments and Vodiy Investments Management - by the end of July 2019 to finance and manage investment projects in the Fergana Valley, Trend reports citing Uzbek media.
These steps are envisaged by the government’s decree “On Additional Measures to Support Entrepreneurial Initiatives in the Fergana Valley”.
Vodiy Investments will accumulate investors' funds to allocate them for promising business projects for the development of industries, services, infrastructure, and for financing the working capital of business entities mainly in Andijan, Namangan and Fergana regions.
In turn, Vodiy Investments Management will manage investment deposits, search for promising projects (together with the administrations of the region) for co-financing and their evaluation, including involvement of independent consultants.
Both companies are scheduled to register by the end of July.
The first investment contributions to Vodiy Investments will be made by SFI Management Group, Almalyk Mining and Metallurgical Complex and Uzmetkombinat.
SFI Management Group was established in early 2017. Today, the company manages three state-owned shares in Uzmetkombinat, Almalyk MMC and Uzvtortsvetmet. It also implements a project for the construction in Tashkent of the country's first metallurgical plant. The volume of investments from the company for this project exceeds $300 million.
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