Uzbekistan to Auction Assets of Enter Engineering, Eriell, and Saneg to Cover Employee Wage Arrears

Tashkent, Uzbekistan (UzDaily.com) — The Government of Uzbekistan has outlined measures to stabilize the finances of the Enter Engineering, Eriell, and Saneg group of companies, according to Podrobno.uz citing a source familiar with the situation.

As of January 2026, the holding’s total wage debt to its 38,700 employees amounted to US$131 million. To settle these obligations, the Cabinet of Ministers approved a plan for a large-scale asset sale.

A dedicated entity, Saneg Aktiv, is being established in coordination with the Agency for Management of State Assets (AMSA) to oversee the sale process. All proceeds from the sales will be deposited into a special account at the National Bank and used primarily to pay wages, followed by taxes and loans. If demand for items on the E-Auksion platform is low, their prices will be reduced by 5% weekly.

Assets slated for sale include the Enter Engineering headquarters in the Chilanzar and Sergeli districts, Eriell offices on Shakhrisabz and Chorbog streets, the Tashkent International Medical Center (formerly Borovsky College), Samarkand Airport, eight hotel complexes in the tourist center, the Fergana oil refinery in Altyaryk, and the Angren terminal.

Simultaneously, the government is seeking new investors to complete strategic projects, including the Tebinbulak metallurgical complex, modernization of the Fergana oil refinery, a gas chemical complex based on MTO (Methanol to Olefin) technology, and the renovation of Bukhara Airport.

The group has been granted a tax deferral until 1 January 2027, effective only after full payment of employee wages.

According to the source, Enter Engineering Deputy Director Alisher Hamidov promised that salaries would be paid by 15 March, funded through the sale of the Gazli Gas Storage facility, though transaction details remain undisclosed. Hamidov urged employees to retain their positions and assured them that the company would not be liquidated.

Enter Engineering is the main contractor for infrastructure construction around the Jizzakh nuclear power plant. The source emphasized that construction must continue, as part of the project funding has already been disbursed.

In January, the owner of Eriell Group and Enter Engineering, Bakhtiyor Fazylov, was reportedly removed from all energy projects in the capacity of “main contractor.”

Earlier, the State Labor Inspectorate recovered wage arrears for more than 12,700 workers at Enter Engineering and affiliated companies following complaints about labor rights violations. According to the source, salaries have begun to be credited to employees’ accounts, but so far only for one month, despite debts dating back to 2025. The official salary for most employees is approximately 2 million soms, which is the amount the company plans to use for debt repayment.