Uzbekistan to sell state stake in Ferghana refinery to foreign investor

Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev signed a resolution “On measures to modernize the Ferghana refinery with the attraction of foreign direct investment”.

In accordance with the resolution, 100 percent of the share of Uznefteprodukt JSC in the authorized capital of Ferghana Refinery LLC is transferred to the State Assets Management Agency.

The Ferghana Oil Refinery will be upgraded with investments from the foreign company RT Trans Asia Resources (Indonesia).

After the modernization of the plant and the full launch of all capacities, RT Trans Asia Resources will create a consortium of leading international companies for the further operation of the plant.

In the future, the state share in the authorized capital of the plant will be sold to RT Trans Asia Resources on the terms of the Government.