IFC to act as strategic consultant for Uzbekistan in privatisation of chemicals producer Navoiazot

By Muzaffar Ismailov in Tashkent May 1, 2023

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. 

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Uzbekistan posts first-half GDP growth of 6.4%

Uzbekistan's economy grew at a rate of 6.4% in the first half, according to offical statistics. The GDP growth was discussed in a meeting focused on economic sectors led by ... more

Uzbekistan, Russia to develop mutual trade, create joint industrial parks

Uzbekistan and Russia have announced plans to further develop mutual trade and create joint industrial parks, according to the Russian trade mission in Uzbekistan. Russian Industry and Trade ... more

Uzbek officials visit Uzbek-Iranian joint venture for $274mn petrochemical project in Bukhara district

Officials from the Chamber of Commerce and Industry of Uzbekistan (CCI) and the Bukhara regional administration recently visited the Petrochem Sepehr joint venture.  The venture, ... more

Follow Us On

Most Read

  1. Dubai heatwave: Temperature feels like 62°C as scientists explain extreme conditions
    9 days ago
  2. Six out of nine “planetary boundaries” have been crossed and a tenth has appeared
    2 days ago
  3. How energy intensive are data centers?
    2 days ago
  4. Earth records hottest year since records began
    2 days ago
  5. Plants absorbing less carbon dioxide in 2023, accelerating global warming
    1 day ago
  1. Dubai heatwave: Temperature feels like 62°C as scientists explain extreme conditions
    9 days ago
  2. Russia overtakes Japan to become the fourth largest economy in the world in PPP terms
    1 month ago
  3. Global access to energy starts to fall for the first time in a decade, says IEA
    25 days ago
  4. LONG READ: The war in Ukraine is inching towards a ceasefire as pressures mount
    19 days ago
  5. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    3 months ago

Reports

Dismiss