Three applications to bid for Uzbekugol came from Russian firms including “a major player on the world aluminum market", according to an unofficial source.
Photo: Alexander Paniotov
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Russians Eye Uzbekistan’s Coal Major
Uzbekistan’s officials said Friday they were extending the deadline to bid for 35.5 percent in state-owned Uzbekugol, the country’s largest coal producer. Three of the four new bids come from Russian companies, Uzbek officials say. Those in the industry believe that the winner may later receive privileges in buying other Uzbek assets in auctions.
The Uzbek state property management agency has extended the deadline for application to bid for 35.5 percent in Uzbekugol till September 5, the Interfax news agency said Friday. The ask price is $30.6 million. The winner is to take on $232 million investment commitments.
Uzbek authorities account the decision for a booming interest to the lot. A source in the property agency says three applications came from Russian firms including “a major player on the world aluminum market”.
RUSAL, which suits the description, told Kommersant they had not applied to bid for Uzbekugol. En+, an energy subsidiary of Basic Element, and Renova also said they were not going to bid.
Industry experts say that the purchase in Uzbekistan is a good opportunity to develop coal business abroad while the Russian coal market is quite saturated. In addition, the deal may give the winner benefits at upcoming privatization auctions in Uzbekistan where major gas, oil, banking and metallurgy assets will soon go on sale.
www.kommersant.com
All the Article in Russian as of July 09, 2007
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