The start of the privatization of the Uzbekistan GTL plant has been announced
The plant was built five years ago for 3.4 billion dollars. Of this, 2.3 billion dollars is foreign debt taken under a state guarantee. It is reported that work is currently also underway to launch the company's IPO.
The start of the privatization of the Uzbekistan GTL plant has been announced
Work has begun on the privatization of Uzbekistan GTL, one of the largest fuel production enterprises in Uzbekistan. This was announced on October 8 at a press conference by Sokhibzhon Murodov, Director of the State Assets Management Agency.
According to him, the concept for the sale of the company already exists, and the privatization process has now been launched.
"We have a concept for the privatization of Uzbekistan GTL. The privatization stage of the plant has begun. That is, what is written in the presidential decree about privatization within this timeframe does not mean that it will be sold exactly then. It means that work on privatization will begin within this timeframe. There are actions preceding privatization. There will be an audit of its financial and economic activities, and factors negatively affecting production and financial indicators will be studied. The impact on the economy, suppliers, and buyers of goods after privatization will be analyzed. The decree provides for these stages."
Sokhibzhon Murodov also reported that work has begun on preparing Uzbekistan GTL for an IPO, i.e., an initial public offering of the company's shares.
"There are also large international organizations that have expressed interest in participating in the first IPO. They have approached us. That is, this is a good signal for us. If we launch an IPO, there will also be those wishing to buy small shares of GTL. I do not have direct information about the financial activities. But we are ready to provide this information."
For reference: the Uzbekistan GTL plant was commissioned in December 2021. Reportedly, the area of its buildings is 135 hectares. The complex is capable of processing 3.6 billion cubic meters of natural gas per year and producing 307,000 tons of aviation kerosene, 724,000 tons of diesel fuel, 437,000 tons of naphtha, and 53,000 tons of liquefied gas.
$3 billion 420 million was spent on the construction of the Uzbekistan GTL plant. Of this amount, $2.3 billion represents loans obtained abroad under state guarantee. According to the company's official website, as of June 16, 2026, the remaining principal debt amounted to $838.2 million. These loans were provided by banks of China, Korea, Russia, and other financial organizations.