UzAssets invites potential investors to apply for the purchase of Fergana Oil Refinery
03/05/2021 15:59
UzAssets invites potential investors to apply for the purchase of Fergana Oil Refinery
03/05/2021 15:59
Tashkent, Uzbekistan (UzDaily.com) – Investment company JSC "UzAssets" invites potential investors to apply for the purchase of LLC "Fergana Oil Refinery".
Applications can be submitted in the form of a letter no later than 18:00 Tashkent time on 28 May 2021 by email to UzAssets employees and consultant - KPMG.
The application process is open to all stakeholders. A detailed sequence of the sale process and its conditions will be additionally published. At the same time, UzAssets indicates that it reserves the right to change the sequence of the sale process or refuse to sell to any potential buyer (buyers) or to negotiate with them at any time without giving a reason.
In the resolution of the President of the Republic of Uzbekistan from 10 April 2019 PP-4275 indicated that an agreement had been reached with the foreign company RT Trans Asia Resources (Indonesia) on the implementation of an investment project for the modernization and additional loading of the Fergana oil refinery by attracting foreign direct investment.
The Indonesian company intended to create a consortium of leading international companies for the ownership, modernization and further operation of the Fergana refinery, ensuring the utilization of its capacities.
On 6 May 2019, during the President's visit to this refinery, it was announced that RT Trans Asia Resources will invest over US$875 million in the modernization of the refinery.
Later, the resolution of the Cabinet of Ministers approved the Basic conditions for the sale of the state share in the authorized capital of Fergana Oil Refinery LLC to PT Trans Asia Resources or its 100% subsidiary.
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