Uzkimyosanoat Acquires Stake in Samarkandkimyo for US$30M

Tashkent, Uzbekistan (UzDaily.com) — The state-owned company Uzkimyosanoat has acquired a 16.92% stake in the joint venture Samarkandkimyo, investing US$30 million. The company may allocate an additional US$60 million to support the mineral fertilizer production project.

The US$390.5 million project was reviewed on 13 March by a government commission chaired by Jamshid Khodjaev, with participation from Deputy Prosecutor General Dilmurod Kasymov. The production complex is being constructed in the Pastdargom district of Samarkand region on a 190.4-hectare site.

The facility will have an annual output of 910,000 tons, including 370,000 tons of phosphate fertilizers and 540,000 tons of compound fertilizers. Its export potential is estimated at US$50 million, with approximately 900 jobs to be created.

Current total capital expenditures for the chemical complex exceed US$487 million. The project also includes the development and processing of phosphorite ore in the Navoiy region under the Neofos initiative.

Financing is structured as US$277 million in loans, US$120 million in equity investments, and US$90 million from Uzkimyosanoat. To date, US$427 million has already been deployed. Design work is 98.6% complete, equipment deliveries are 80.6% complete, and key machinery has been delivered and is being installed. Construction readiness stands at 34.6%. Further financing is expected following completion of the updated feasibility study and expert review.

Ferkensco Management Limited remains the largest shareholder with a 75.06% stake. In December 2025, the state regained partial control, and Uzkimyosanoat increased its share to 24.94%.

Samarkandkimyo is considered a strategic initiative for developing Uzbekistan’s chemical industry. President Shavkat Mirziyoyev previously emphasized that project delays are unacceptable and instructed authorities and investors to expedite its completion.