Ergen Tursynbaev underlined that by the end of 2013 one more joint venture - Uz-Prista Recycling – will start its work by the end of 2013. The venture will process used oil, he added.

Representative of Uzbekneftegaz stated that new venture will create 50 new jobs.

Bulgaria’s Prista Oil Holding is creating two new enterprises at Angren special industrial zone (SIZ) in Uzbekistan.

The company is creating Uz-Ecoprotect and Uz-Prista Recycling within the creation of modern production of basic motor oils with technological chain of collecting and processing of used oils.

Uz-Ecoprotect will collect, store and transport used oils. The venture is founded by Uznefteprodukt (49%) and Prista Recycling (51%, Bulgaria). The charter capital of the venture is US$1 million.

Uz-Prista Recycling is created on the basis of unused premises of Rezinotekhnika and it will specialize on processing used oil. The charter capital of the company is US$15 million. Uznefteprodukt will hold 49% stake in the venture and Prista Recycling – 51%.

State Property Committee of Uzbekistan will realize unused premises of Rezinotekhnika to Bulgarian side on zero redemption price. The Bulgarian side will receive full ownership to the premises after it implements its investment liabilities.

In particular, the Bulgarian side should invest US$15 million within three years to designing and construction of the venture with the capacity of processing 43,000 tonnes of oils and production of engine oils.