Uzbekistan Launches Open Tender for Privatization of Cement Plant and Coal Company

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan’s Agency for State Assets has announced the start of an open privatization process for Sherobod sement zavodi LLC and Shargʻunkoʻmir JSC as part of the approved state property reform programs.

The tender offers for sale a 100% state stake in the charter capital of Sherobod sement zavodi LLC and a 99.55% state stake in Shargʻunkoʻmir JSC. The privatization process is open to both domestic and international investors and will be conducted in two stages: submission of Expressions of Interest (EoI) and submission of Binding Offers (BO).

The Agency explained that the synchronized privatization of the two enterprises is driven by production cooperation: converting the cement plant to coal fuel requires a stable supply of coal. At the same time, the assets are being sold within a single privatization process but will not be combined into one asset package.

Alkes Research has been engaged as the privatization consultant.

Sherobod sement zavodi LLC, located in the Sherobod district of Surkhandarya region, is one of the country’s major cement producers. The plant has a designed capacity of 1.5 million tonnes per year and currently uses natural gas as fuel.

Shargʻunkoʻmir JSC, based in the Sariasiyo district of the same region, specializes in underground and open-pit coal mining. The company’s production capacity reaches up to 900,000 tonnes per year, with proven reserves exceeding 38 million tonnes. The enterprise also operates its own railway infrastructure and a coal dry beneficiation plant.

Key investment commitments outlined in the privatization terms include converting the cement plant to coal fuel, as well as attracting at least US$20 million in direct investment to increase coal production to 1 million tonnes per year starting from the second half of 2026.

Applications for participation at the Expression of Interest stage will be accepted until 21 January 2026. Based on the results, a shortlist of investors will be formed and granted access to the virtual data room, as well as to the results of financial, tax, and legal due diligence of the assets.

The Agency for State Assets stated that it will ensure transparency throughout the process and will regularly inform the public and participants about the progress of the tender.