UzAssets awaits bids for purchase of Fergana oil refinery

 The UzAssets JSC investment company under the State Asset Management Agency invites potential investors to apply for the purchase of Fergana Oil Refinery LLC in the amount of 100%.

According to the press service of the company, application letter can be submitted no later than 18:00 Tashkent time on May 28, 2021 by email to e-mails of UzAssets employees and consultants of KPMG.

The application process is open to all stakeholders. A detailed sequence of the sale process and its conditions will also be published. At the same time, UzAssets claims the right of further changes in the sequence of the sale process or to refuse to sell to any potential buyer and to negotiate with them at any time without giving a reason

Fergana Oil Refinery is the second largest oil refinery in Uzbekistan in terms of oil refining volumes. It produces 60 types of petroleum products and fuels and lubricants, including diesel fuel in accordance with Euro-4 and Euro-5 standards (from 2021).

About 94% of the production is sold to the local market, the rest is exported. Revenue for 2020 was $ 231 million, gross profit was $ 54 million. The average annual net profit for the last 3 years was $ 19 million.