SFI Management Group to create two companies to finance and manage investment projects in Ferghana Valley

Tashkent, Uzbekistan (UzDaily.com) -- SFI Management Group will create investment company Vodiy Investments and management company Vodiy Investments Management to introduce modern financing mechanisms for promising projects, as well as to attract private investment in three areas of the Ferghana Valley.

This is envisaged by the government’s decree “On additional measures to support entrepreneurial initiatives in the Ferghana Valley”.

"Investment company Vodiy Investments will accumulate investors’ funds for their further investment in promising business projects for the development of industries, services, infrastructure, as well as the financing of working capital of business entities mainly in Andijan, Namangan and Ferghana regions", - reported in a press -service SFI Management Group.

The management company Vodiy Investments Management, noted in the press service, will manage investment deposits, as well as together with the khokimiyats of Andijan, Namangan and Ferghana regions - search for promising business projects for co-financing, conducting their evaluation, including through the involvement of independent consultants .

It is planned that both companies will be registered by the end of July. Initial investment contributions to Vodiy Investments will be formed at the expense of own funds of the SFI Management Group, Almalyk MMC and Uzmetkombinat.

The SFI Management Group was established in early 2017. Currently, SFI manages three state-owned shares of such enterprises as Uzmetkombinat, Almalyk MMC and Uzvtortsvetmet. The company also bought part of the shares of the Tashkent football club "Pakhtakor" under investment commitments performed for five years, in the amount of not less than 200 billion soums.

The company not only manages state shares, but also invests in Uzbekistan itself. SFI is implementing a project for the construction in Tashkent of the country’s first metallurgical plant, which will produce cold-rolled sheets with a capacity of 500,000 tonnes a year. The volume of investments for this project exceeds US$300 million.