State Committee for Managing State Property (SPC) of Uzbekistan has announced a tender for 57.7% stakes in Jizzakh Plastmassa (Jizzakh Plastic Factory) at the starting price of US$3.63 million.

A source at the SPC Bureau for Post-Privatization Support of Enterprises told Rosbalt that in selection of the tender winner, preference will be given to the company that offers the highest price for the shareholding at sale and takes on investment obligations of at least US$5 million.

Jizzakh Plastic Factory is the largest enterprise of the Uzbek chemical industry specialized in production of plastic film, pipes and consumer goods. The factory was built in 1972. Production capacity makes up 30,000 tonnes of plastic products, including 4,400 tonnes of plastic pipes yearly. Jizzakh Plastmassa is planning to launch the production of 630 mm pipes and joint pieces for drinking and technical water supply and sewerage.

The enterprise’s main supplier is Shurtan Gas and Chemical Complex (Kashkadarya region, Uzbekistan) launched in the late 2001 and producing up to 125,000 tonnes of polyethylene yearly.

All tender offers are due to 13 August 2007. The results of the tender will be announced in September.