Tashkent, Uzbekistan (UzDaily.com) — The State Assets Management Agency (AUGA) of Uzbekistan has extended the deadline for submitting expressions of interest (EOI) for the acquisition of the state stake in Neftgazmontaj LLC.

According to the agency, applications will be accepted until 6:00 PM (Tashkent time) on 23 September 2024.

Previously, on July 18, AUGA announced the start of the process to sell a 100% state stake in the charter capital of "Neftgazmontaj" LLC, with the initial deadline for submissions set for 27 August.

The agency clarified that, following recommendations from the privatization consultant Mosaic Financial, the decision to extend the application deadline was made to foster a more competitive environment in the sales process.

Neftgazmontaj specializes in performing complex construction and installation works at all levels and has a wide range of vehicles, construction machinery, and equipment necessary for such operations.

The company has been operating in Uzbekistan since 2004, with a charter capital of $4.3 million.

According to financial reports, the company's net profit for the first quarter of 2024 was 147.5 million soums, which is 3.6 times higher compared to the same period last year. However, the company's revenue for the year decreased from 25.3 billion soums to 20 billion soums.