The World Bank Group’s International Finance Corporation (IFC) is to act as a strategic consultant on the pre-privatisation preparation of Uzbekistan’s chemicals and fertiliser producer Navoiazot.
An agreement on the role was signed on April 28 on the sidelines of the Tashkent International Investment Forum by the IFC and Uzbekistan’s State Assets Management Agency (SAMA).
The IFC is expected to conduct a comprehensive analysis of the asset and assess the interest potential investors have in the company and its assets, ahead of drawing up a privatisation strategy.
Navoiazot produces fertilisers, reagents for gold miners and low-tonnage chemical products, while also processing gas.
The company produces more than 30% of Uzbekistan's chemical products.
In 2021, Navoiazot exported products worth UZS 6.9bn ($600mn), mainly to regional countries and Europe. The company's net annual income amounted to UZS 3.1 trillion, with profit recorded at UZS 6.2bn.
Last year, the company became one of the top 10 taxpayers of Uzbekistan.
Related Articles
Unusually intense heatwave hit Central Asia in March, may impact crop yields
Central Asia experienced an unusually intense heatwave in March that could have an impact on agricultural crop yields, according to an April 4 ... more
Russia’s expulsions of migrants reportedly nearly double in 2024 to around 80,000
Russia in 2024 expelled more than 80,000 migrants for immigration rule violations, compared to 44,200 in 2023 and 26,600 in 2022, TASS reported on January 8. The Russian state news agency cited a ... more
Kazakhstan’s transit of Russian oil to Uzbekistan and China amounts to 10.2mn tonnes in 2024
Russia’s transit of oil through Kazakhstan’s pipeline system, operated by main pipeline operator KazTransOil, to China and Uzbekistan totalled 10.21mn tonnes in 2024, ... more