Russian company to receive shares in Uzbekugol for trust management

Tashkent, Uzbekistan (UzDaily.com) -- Progress Gor Tech, a Russian company, will receive a stake of Uzbekiston Temir Yollari in the authorized capital of Uzbekugol for trust management.

The government of Uzbekistan signed a resolution on measures to increase the effectiveness of Uzbekugol Joint-Stock Company.

According to the document, the Russian company will receive a 45% stake in the authorized capital of the Uzbekugol enterprise for trust management.

To manage the coal enterprise, Progress Gor Tech will establish a subsidiary in Uzbekistan.

The resolution noted that for the period of trust management, Uzbekugol will retain the organizational and legal form of the joint stock company.