September 18, 2012
The chemical industry of Uzbekistan is becoming more significant
State Joint Stock Company \"Uzkimesanoat\" in the form of an open joint-stock company announced its intention to increase the authorized capital by 7.3 times - up to 1.1 trillion. soums by issuing 9 952 835 ordinary shares with nominal of 11 063 soums.

This is stated on the website of the Center of Coordination and Control over the securities markets activity under the State Property Committee of Uzbekistan.

Earlier it was reported that in July 2011, the Company issued 13,078,400 ordinary registered shares with nominal of 11 063 soums with total amount of 144.6 billion soums issue. The purpose of the share issue - increasing the authorized capital.

On July 13th of this year, the Center of Coordination and Control over the securities markets activity registered the issue prospectus of SJC \"Uzkimesanoat\" on placement of 471 643 ordinary shares with nominal of 11 063 soums with overall worth over 5.2 billion soums.

Shares issues are placed by private subscription to State Property Committee of Uzbekistan.

The authorized capital of the company, divided into 13 550 043 ordinary shares with nominal of 11.063soums, is 149.9 billion soums.

State Joint Stock Company \"Uzkimesanoat\" was established as an open joint stock company by the Resolution of Cabinet of Ministers of March 13th 2001 \"On measures to improve the direct structure of the chemical industry\".

Currently it comprises 14 industrial enterprises, 13 regional distribution organizations implementing fertilizer agriculture, scientific research and design institutes, foreign trade transport and shipping organizations \"Kimmetrans\" and \"Kimetrans -logistic\" and the brokerage company \"Hamkor- kimeservis\".

The current structure allows to implementing full policy of the industry, including research, production, distribution and delivery to end consumers.

Products of industry are demanded by leading sectors of the economy. Agriculture uses chemical fertilizers, chemical pesticides, defoliants, film for cotton, gold industry - sodium cyanide, polyacrylamides, light industry - acetate yarn, fiber Nitron, building materials - soda ash.

Production capacities allow to fully ensure the domestic demand in Uzbekistan with chemical products, as well as to export it.

With the volume and types of produced mineral nitrogen and phosphate fertilizers HOOK \"Uzkimesanoat\" is a leader in Central Asia, and the largest producer of ammonia, urea, ammonium nitrate, ammonium sulfate, ammonium phosphate and nitrofos.

The main objectives of the company are to ensure the competitiveness of products of the chemical industry of Uzbekistan, organization of deep processing of rich natural resources of the country and the creation of modern and high-tech productions based on our own research and development, and by attracting advanced foreign technologies.

Domestic chemical industry is a specific leader in expanding working industries. Till 2015 the operating companies of the chemical complex in Uzbekistan will expand production capacity over 11 investment projects of amount equivalent to $ 166 million. 19.8% of the worth are own funds of the industry, 29.5% - the Fund\'s of Reconstruction and Development of Uzbekistan, 39.7% local banks\' and 13.8% - foreign commercial banks\'.

As it was reported by the SJC \"Uzkimesanoat\" under the Program of priority measures for increasing production and developing of new types of competitive products approved in October 2011 by the head of the state, production of soda ash in Kungrad soda plant will increase on 50,000 tons.

In June of this year contract with the Chinese CITIC Ltd on design and delivery was signed, it was done in purpose of increasing capacity of Kungrad Soda Plant in 1,5 times - up to 150 thousand tons per year.

Funding of projects with worth of $110 million in addition to the Chinese Eximbank loan will be implemented by credit from the Fund for Reconstruction and Development and own expense of HOOK \"Uzkimesanoat\".

The program also provides increase on 42.5 thousand tons of ammonium phosphate in JSC \"Ammophos-Maxam\". Potash plant will expand capacity on 20 million tons, Ferghana Chemical Factory of Furan Compounds will increase production of cotton cellulose on 11 million tons, JSC \"Navoiazot\" will increase production of 7.5 thousand tons of sodium cyanide.

Due to technical and technological re-equipment of the company, complexes will significantly expand production of products with high added value - urea, nitric acid and sulfuric acid.

In the first half of 2012, according to the company, its businesses produced goods in current prices in the amount of 781.1 billion soums. Produced more than 643 thousand tons of fertilizers, including 500.4 thousand tons of nitrogen, 76.1 thousand tons of phosphorus and 66.5 thousand tons of potash. (Source: UzReport.com)


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