Baku, Azerbaijan, August 9
By Fakhri Vakilov - Trend:
The Cyprus company Ferkensco Management Ltd will acquire almost 75 percent of the shares of the Samarkandchemistry JSC plant in Uzbekistan, and will also invest $450 million in the development of its production, Trend reports citing Uzkhimprom JSC.
A deal to sell assets to an investor may be completed in September, read the message.
The investor will be sold 35 percent of state assets and 39.65 percent of the shares of Uzkhimprom JSC in the authorized capital of Samarkandchemistry.
Moreover, the investor assumes the obligation to build a modern environmentally friendly chemical complex for the production of complex fertilizers and mineral acids on the basis of Samarkandchemistry JSC.
Sources of financing for the investment project are investor funds, as well as loans from foreign and local financial institutions, attracted under the guarantee and obligations of the investor.
It was proposed to create a foreign enterprise in the form of a limited liability company with a 100 percent investor share in the authorized capital for the project, said the message.
Within five years, the company plans to create the production of ammonia, urea, ammonium sulfate and melamine on the basis of the chemical plant.
Samarkandchemistry JSC (Samarkand Chemical Plant) was commissioned in 1954. Currently, the production capacity at the plant is about 25,000 tons of ammophos per year.
---
Follow author on Twitter:@vakilovfaxri