Participation of foreign investors in the management of joint stock companies
In the real sector of economy of the Republic Uzbekistan, including the building materials industry, favorable conditions are created for foreign investors to invest.
In the Presidential Decree of the Republic of Uzbekistan dated 24 April 2015 UP-4720 "On measures for introduction of modern methods of corporate governance in joint stock companies" and in accordance with the resolution of the President of Uzbekistan dated 28 April 2015 DP-2340 "On measures to increase the portion and importance of private property in the economy", there has been approved the list of joint stock companies in which the state's shares should be sold to strategic foreign investors. In particular: 75% of shares of JSC "Quartz", JSC "Kizilkumcement" - 35.9% and JSC "Samarkand Marmar" - 6.9%.
For all the above joint stock companies, state assets are assessed and shareholding is put up for auction.
Quartz Joint-Stock Company was established in 1975. The enterprise is located in Kuvasay, Fergana Province. The principal object of business of the enterprise is glass products: float glass and tempered glass, glass bottles and glass jars.
The shareholders of the Company are: the Center for Management of State Assets at the State Committee for Competition (state share) 99.91% and other individuals (43) – 0.09%.
Glass jars are made on glass forming machines PVM-12A and on 8-section machines IS-8 of German company EMHART GLASS. Glass jars production capacity is 269 million pieces in conventional 0.5 lt equivalent.
Glass bottles are made on glass forming machines ВВ7 and IS-8, glass bottles production capacity is 110 million pieces in conventional 0.5 lt equivalent.
Float glass is made under advanced technology on the equipment of TEKINT, Italy. Float glass production capacity is 10 million sq.m in 2 mm equivalent.
Total land area is 50.6 ha, including production area 1163.6 sq.m.
Qizilkumsement Joint-Stock Company was established in 1977. The enterprise is located in Navoi city, Navoi Province. The principal object of business of the enterprise is production of cement, fiber cement products, building lime, reinforced-concrete products, etc.
The shareholders of the Company are: the Center for Management of State Assets at the State Committee for Competition (state share) 35.9%, О'zqurilishmateriallari 51%, and other shareholders and individuals 13.1 %.
Qizilkumsement is the leader in the Central Asia for production of cement, sales, production capacity as well as process outfit and service quality.
The company’s market share for 2015 is 42.3 %.
Production capacity is for cement 3.5 million tons, fiber cement products 45 million conventional plates, building lime 56 thousand tons.
Total land area is 1388 ha, including production area 1001 ha.
Samarkand Marmar JSC was established in 1994 on the basis of the Samarkand Quarry Administration (1977). The enterprise is located in Samarkand city, Samarkand Province.
The principal object of business is mining of marble and granite blocks with production capacity 6 thousand cu.m, and production of facing products of natural stone with production capacity 10 thousand sq.m per annum.
In addition, Samarkand Marmar JSC possesses 8 natural facing stone deposits.
The shareholders of the Company are: the Center for Management of State Assets at the State Committee for Competition (state share) – 6.9%, Ross-UzMramor (Russia) – 51 %, staff – 6.7%, other shareholders and individuals – 35.4%.
Total land area is 216.8 ha, including production area 8757.6 sq.m.