Samarkandkimyo goes private

The state-owned company Uzkhimprom announced who acquired 100% of the shares of its chemical plant Samarkandkimyo.

As follows from the Uzkhimprom press release, it is planned to sell Samarkandkimyo shares to the Cyprus-based company Ferkensco Management at the “zero” redemption value with investment obligations as part of the program for the development of the chemical industry of the Uzbekistan in 2019-2030.

It is emphasized that facilities for the production of phosphate (ammophos and monoammonium phosphate) and complex fertilizers are to be created at the Samarkandkimyo. The plant will be able to produce up to 300 thousand tons of phosphate and as many complex fertilizers per year.

Samarkandkimyo can now produce complex fertilizers, however, its capacities are obsolete and deteriorated.

Earlier, the President of Uzbekistan Shavkat Mirziyoyev signed a decree “On measures to further reform and increase the investment attractiveness of the chemical industry”, which provides for the sale of shares in several large chemical enterprises.