BAKU, Azerbaijan, June 21
By Klavdiya Romakayeva - Trend:
Fund for Reconstruction and Development (FRD) in Uzbekistan has been approved to become a shareholder of Navoiazot JSC (Navoi Ammonia and Urea Fertilizer Production Plant), Trend reports referring to Navoiazot JSC.
According to Navoiazot JSC, the formation of the FRD share in the authorized capital of Navoiazot JSC will occur through the issue of additional shares.
It is reported that the decision on the additional issue of shares will be postponed until the completion of the assessment and examination of the reliability of the report on the assessment of the market value of one ordinary registered uncertified share of Navoiazot JSC.
Navoiazot JSC is one of the basic segments of Uzbekistan's chemical company Uzkimyosanoat, which produces more than 30 percent of the total chemical products in Uzbekistan. The company covers the needs of almost all industries, transport, agriculture, fuel and energy complex, as well as services, trade, science, culture and education.
From 2021, an open partnership program is being implemented to create technological clusters in the chemical and gas chemical industries of Uzbekistan. It provides for the attraction of private and foreign investors and technology partners in the creation of new production facilities. It includes the following technology clusters, including industrial and adjacent territories of Navoiazot JSC, Kungrad Soda Plant LLC, Ustyurt and Shurtan Gas Chemical Complex, a plant for the production of synthetic liquid fuel.
It is noted that after the completion of the transformation and privatization procedures, they will be joined by the production and adjacent territories of Ferganaazot JSC and the Fergana Oil Refinery.
---
Follow the author on Twitter: @romakayeva