DUSHANBE, March 4, Asia-Plus — British-based company MIRUMIR Ltd has acquired open joint-stock company (OJSC) Tojikkhimprom (chemical plant in Yovon) for 12.5 million somonis (equivalent to $3.6 million).
According to the State Committee for Investments and Management of State-owned Property, the government approved the results of a January 3 international tender for buying Tojikkhimprom in late February.
In accordance with tender’s requirements, MIRUMIR Ltd should repay all enterprise’s debts, invest 20.5 million somonis ($5.9 million) in modernization of the plant in the coming three years. Besides, the enterprise should produce $15.5 million worth of output during 2-3 years.
We will recall that the British company Enjik Chemical Co acquired OJSC Tojikkhimprom in June 2007. However, the government revoked the privatization protocol in August 2007. The State Committee for Investments and Management of State-owned Property returned to Enjik Chemical Co $200,000 that had been paid by the company as guarantee fee and prepared a new individual project for privatization of the enterprise in October 2007. According to the Committee, Enjik Chemical Co has no complaint.
Enjik Chemical Co acquired OJSC Tojikkhimprom by international tender for 10.05 million somonis.
The plant was supposed to pass into complete ownership of Enjik Chemical Co in 2009. The company, in particular, undertook to invest 20 million dollars in modernization of the plant before 2009 as well as pay off the plant’s debts in an amount of 25 million somonis and create new jobs.
According to the State Committee for Statistics, OJSC Tojikkhimprom is the only enterprises in Tajikistan and one of three within the CIS area, producing different types of chemical goods such as caustic soda, liquid chlorine, chloride of lime, calcium hypochloride and other chemical goods. The company was established in 1999 on the basis of the Yovon chemical plant and was registered with authorized capital of 15.3 million somonis.
