Uzbekistan offers state stakes to Russian investors

Interfax October 19 Uzbekistan has urged Russian investors to take part in privatizing several industrial enterprises, a source in the Uzbek State Property Committee told Interfax. He said the committee has drawn up a list of 23 enterprises in seven sectors to be privatized, including in the energy sector, metallurgy, the oil and gas sector, and railways, and offered it to Russian investors. In the energy sector, Russian investors have been offered state stakes in the Syrdarya thermal power plant (48%), the Novoangrenskaya thermal power plant (49%), the Ugol coal company (49%) and Kaolin (100%). The list of oil and gas enterprises includes Uznefteprodukt (44%), Uzneftegazmash (39%), Uzgeoburneftegazdobycha (44%) and Avtogaz (70%). Stakes range from 25% to 100%. A committee official said that stakes in some enterprises will be sold at auctions and in others through direct talks with potential investors. The list of enterprises offered to Russian investors includes companies that have long-established contacts with Russian partners. "This does not mean that investors from other countries have no right to participate in privatization. But partnership relations increase Russian investors' chances," the committee official said.