Uzbekistan plans to sell more than 1.2 thousand facilities

Almaty. November 9. Silkroadnews - Uzbekistan plans to sell more than 1.2 thousand productions facilities and offer foreign investors minority stakes in the largest of them, reports Reuters.
According to First Deputy Prime Minister of Uzbekistan Rustam Azimov, the country plans to privatize more than 1,200 production facilities and offer foreign investors a strategic minority stakes in the largest of them. In particular, foreigners will receive a share in the 68 major assets, including chemical enterprise "Ferghanaazot", electrotechnical plant "Photon" and cement factory "Kyzylkumcement".
According to the Minister, the project aims to "attract strategic investors who can bring new technology and equipment and organize the production of modern and competitive products". At the same time Uzbekistan has signed with foreign companies a number of memorandums, have been concluded a number of transactions to estimate the expected investment of $12.4 billion.
Initially, foreigners will be allowed to acquire only minority stakes, though they may be entitled in time to redeem the company completely, mentioned Rustam Azimov. However, he did not disclose financial details of the plan. Meanwhile, as noted, in Uzbekistan there is no liquid market for the shares, making it difficult to estimate the cost of the local companies.