DUSHANBE, October 2, Asia-Plus — The State Committee for Investments and State-owned Property Management is preparing a new individual project for privatization of open joint-stock company (OJSC) Tojikkhimprom (chemical plant in Yovon)
Mahmadsharif Nozimov, the deputy head of the State Committee for Investments and State-owned Property Management, told Asia-Plus that the government should consider the project within a month and pass its resolution. “If the project is endorsed, a tender will be held at the end of this month,” said the deputy head, “As far as the British company Enjik Chemical Co, which has acquired this enterprise, is concerned, the privatization protocol was revoked and the Committee returned it $200,000 that had been paid by the company as guarantee fee.”
He added that the Enjik Chemical Co has no complaint. “The company can participate in the new tender for privatization of Tojikkhimprom,” Nozimov said.
On August 10, the Tajik government passed a resolution revoking a protocol on privatization of Tojikkhimprom of July 21, 2007.
We will recall that OJSC Tojikkhimprom was acquired by Enjik Chemical Co in June 2007 by international tender for 10.05 million somonis (equivalent to some $3 million).
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.
Under the strategic plan for privatization of medium and large enterprises, as well as restructuring of entities of natural monopolies and especially large enterprises designed for 2003-2007, 37 large enterprises are subject to restructuring. Among them are Tajikcement, TajikAir, Tojikkhimprom, Tajik Telecom, Tojikgaz, Tajik Railways, Barqi Tojik, etc.
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.
We will recall that a valuation commission has set the initial price of the package of 15,300,120 shares of Tojikkhimprom at 10 million somonis (equivalent to $2.9 million).
