With great pleasure, we announce that effective 30th Nov. 2023, Indorama Petchem BV (IPBV) , The Netherland, a subsidiary of Indorama Corporation Pte Ltd, Singapore (”Indorama”) has acquired the shares of JSC Fergana Azot (“FA”), Uzbekistan from the State Assets Management Agency (SAMA) under the privatization program of the Government of Uzbekistan. International Finance Corporation was the advisor to the government for this privatization.
FA is one of the largest producers of fertilizers and industrial chemicals in Uzbekistan.
On behalf of Indorama, we welcome FA team to our family.
This marks another important step towards Indorama’s long-term commitment to the fertilizer sector. In coming years, FA will be modernized to improve its safety, reliability and environmental footprint, and further debottlenecked to expand its production capacities.