Baku, Azerbaijan, April 11
By Fakhri Vakilov – Trend:
Uzbek government will transfer Fergana Oil Refinery to the Indonesian company RT Trans Asia Resources, Trend reports via Uzbek media.
The relevant decree on measures to modernize the Fergana refinery by attracting direct investment of RT Trans Asia Resources was signed by President of Uzbekistan Shavkat Mirziyoyev.
Ministry of Justice of Uzbekistan notes that, this company, registered in Indonesia, will invest in the modernization of Fergana Oil Refinery LLC and create a consortium for managing the enterprise.
The Fergana Oil Refinery was commissioned in 1959 and today produces about 60 types of petroleum products. The design capacity of the processing plant is 5.5 million tons of oil per year.
Decree indicates that 100 percent of the share of Uznefteprodukt JSC in the authorized capital of the Fergana refinery is transferred to the State Assets Management Agency.
After the modernization of the plant and the full launch of all capacities, RT Trans Asia Resources will create a consortium of leading international companies for the further operation of the plant.
"The state share in the authorized capital of the plant will be sold to the company Trans Asia Resources under the terms of the government in the future," the statement said.
Fergana oil refinery is one of the leading enterprises for the production of fuel and lubricants in the region. Refining directions include 35 technological installations for the production of almost all the existing in the oil refining range of petroleum products.
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