Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan’s State Assets Management Agency has put the government’s stake in UzXCMG, a joint venture that manufactures construction and specialised equipment, up for electronic auction. Details of the lot have been published on the E-auksion platform.
The stake on offer represents 49.07% of the company’s charter capital. Based in Urgench, the enterprise has total charter capital of 80.9 billion soums, making the nominal value of the stake being sold 39.71 billion soums. The starting price for the auction has been set at 140.53 billion soums, with bidding scheduled for 19 October.
As of 1 April, UzXCMG’s liabilities totalled 248.34 billion soums, while accounts receivable owed to the plant stood at 154.7 billion soums. The company recorded a net loss of 1.39 billion soums.
At the beginning of the second quarter, the book value of the company’s fixed assets was estimated at 114.78 billion soums, with depreciation reaching 24.58%.
The enterprise employs an average of around 160 people.
The production complex covers approximately 6 hectares on the southwestern outskirts of Urgench. The site has its own railway spur and includes a three-storey administrative building and an assembly workshop.
The sale of the state-owned stake is part of a privatisation programme approved in March 2023. In late August, the president of Uzbekistan instructed officials to accelerate the sale of this asset.
