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Uzbekistan to sell state package in leading oil equipment manufacturing enterprise

Business Materials 10 July 2020 16:35
Uzbekistan to sell state package in leading oil equipment manufacturing enterprise

BAKU, Azerbaijan, July 10

By Ilkin Seyfaddini - Trend:

The State Assets Management Agency of Uzbekistan is preparing to privatize Kokand Mechanical Plant, Trend reports citing the Agency.

The state package of 64.1 percent will be sold to private investors.

To participate in the bids, investors should send offers to the Agency, which should include the proposed amount of redemption payment, as well as brief information on the planned investment project on the basis of the plant, the date of execution, the amount of investments, as well as the number of new jobs created by July 20, 2020.

The bids received will be summarized and the initial terms and conditions of the sale of the package will be determined on the best basis, after which it will be put up for auction.

Kokand Mechanical Plant was established in 1933 on the basis of the central mechanical workshop. Plant is the leader of the engineering industry of Uzbekistan and a key supplier of Uzbekneftegaz.

The company produces over 50 types of products, including equipment for the oil and gas and chemical industries.

At the end of 2018 the plant became the first company in Uzbekistan which successfully conducted secondary public offering. Then the enterprise attracted 2.9 billion soum ($284,156).

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