TajikAzot loses an investor
The government of Tajikistan has terminated the agreement signed three years ago with one of the Chinese companies, which assumed the modernization of ammonia and urea production at Tajik Azot. The investor pledged to invest $360 million in the company, receiving in return 50% of its shares. However, he did not fulfill the investment obligations.
Nevertheless, the Tajik authorities are desperatly trying to find an investor who can start currently idling TajikAzot plant. The company has been inactive for three years and its employees has not been receiving their salary. Even if the investor will be found, restarting TajikAzot will be far from easy: the gas pipeline through which it was previously supplied with “blue fuel” is very worn out.
TajikAzot is the only company in Tajikistan to produce nitrogen fertilizers. Its product line includes ammonia, urea, etc.