The State Assets Management Agency of Uzbekistan has announced the sale of state shares in three major automotive enterprises as part of the country’s ongoing privatization efforts. The government is offering 50% of the authorized capital of Uzsungwoo, 100% of the authorized capital of Avto Climate Control, and 34.2% of the authorized capital of Uz Truck and Bus Motors.
Uzsungwoo, founded in 2011, specializes in manufacturing metal parts for the automotive industry using stamping and welding technologies. The company has an annual production capacity of 120,000 sets and supplies parts for Chevrolet Cobalt, Gentra, Tracker, and Onix models. Its authorized capital stands at $14mn.
Avto Climate Control was established in 2010 in partnership with Uzavtosanoat JSC and South Korea’s Erae Cs Limited. The company produces heating and cooling systems for vehicles, playing a crucial role in Uzbekistan’s automotive supply chain. Its authorized capital is UZS 12.6bn ($971,439).
Uz Truck and Bus Motors, founded in 2009, is one of Central Asia’s largest manufacturers of MAN and Howo trucks and passenger vehicles. The plant produces over 60 types of vehicles, including tractors, dump trucks, vans, special equipment, and buses with capacities ranging from 5 to 70 tons. The company’s authorized capital is €32.8mn.
The sales process will take place in two stages. In the first stage, interested investors must submit an Expression of Interest (EOI) along with supporting documents. In the second stage, authorities will review the EOIs and invite selected investors to submit binding offers. The asset will be awarded to the highest bidder.
To qualify, investors must have sufficient financial resources, not be on international sanctions lists, and provide proof of transparent fund origins.
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