Samarkand Chemical Plant Will Be Sold to Cyprus Company on Zero Value

Ferkensco Management Limited Company from Cyprus will buy a full stock of shares of the Samarkandkime enterprise in Samarkand city region on zero value. This information was released by the official provider of legal data under the Uzbekistan Ministry of Justice.

According to the investment plan, the enterprise will be a base for a new eco-friendly factory that produces mineral fertilizers. The investor is already committed to allocate $200 million to the project. This money will be invested in production modernization to create an up-to-date chemical plant with a capacity of about 600,000 tons per year. It’s expected that 500 jobs will be created when the factory starts its operation on July 1 this year.

Samarkandkime Joint-Stock Company (formerly Samarkand superphosphate plant) was established in 1954. The company currently produces ammophos, battery acid, and other chemical products. The capacity of the enterprise is up to 250 thousand tons of products per year. According to the company’s latest report, the net revenue of the JSC rose to 31 billion sum ($3.2 million) throughout a nine-month period in 2019. The company has receivable and payable bills.

It was also reported that Ferkensco Management Limited was registered in 2014.