Tashkent, Uzbekistan (UzDaily.uz) — Financial restructuring and preparations for privatisation have begun at Navoiyazot, the state-owned chemical producer. State Assets Management Agency (SAMA) Director Sohibjon Murodov announced this at a press conference on 8 October.
According to Murodov, Navoiyazot is a major strategically important asset and one of the key drivers of Uzbekistan’s chemical industry.
Given the plant’s location and the existing infrastructure around it, plans call for the development of a large chemical cluster.
The agency is currently working on the company’s financial restructuring. As part of this process, several non-core assets are to be removed from Navoiyazot’s balance sheet to create a “clean asset”.
Once this process is complete, the next steps in preparing the company for privatisation will be determined.
“We have now begun the financial restructuring of Navoiyazot itself. In other words, after removing several non-core assets from the company’s balance sheet and turning it into a clean asset, we will consider the matter at the next stage. We have not reached that stage yet,” Murodov said.
In April 2025, the president of Uzbekistan signed a decree providing for the privatisation of major state-owned enterprises on international markets. The list included the state’s 75% stake in Navoiyazot.
The sale is to be carried out according to a separate schedule established by the State Commission for the Privatisation of State Assets and Coordination of Privatisation Processes.
Murodov had previously briefed the president on preparations to privatise major state-owned assets.
These included preparations for the privatisation of UzAuto Motors and its subsidiaries, Navoiyazot, and thermal power plants.
