Uzbek Navoiazot's net profit reduces five times in 2009
Uzbekistan, Tashkent, April 14 / Trend D. Azizov /
Navoiazot OJSC is the largest chemical enterprise of Uzbekistan. In 2009 it achieved a net profit of $ 1 billion 145.8 million sums - 4,6 times less than in 2008, a message reported.
According to the balance, sales volume increased in 2009 by 1.8 percent - up to 242.3 billion soums, exports amounted to $61.732 million. Gross profit from product sales decreased by 2,5 times - up to 18.585 billion soums.
Last year "Navoiazot" produced marketable products to the amount of 259.783 billion soums - one percent more than the plan, the company said.
Navoiazot (Former Navoi Chemical Plant) was put into operation in 1964. It specializes in the production of nitrogen fertilizers, nitronic fibers, as well as integrated production of organic synthesis.
Authorized capital is formed to the amount of 42.145 billion soums.
In April 2007 the State Property Committee of Uzbekistan announced a tender to sell 49 percent of "Navoiazot" at $ 60 million. The competition has been renewed repeatedly. It was declared invalid in late 2008.
In 2009, Navoiazot and ISU Corp. (South Korea) have created a joint venture ISU Navoi Chemical to build production of polyvinyl chloride (PVC) worth $180 million. It is planned to build a plant with capacity of 50,000 tons of PVC and 32,000 tons of caustic soda per year on the basis of Navoiazot.