Tashkent, Uzbekistan (UzDaily.com) -- State Committee of the Republic of Uzbekistan for the promotion of privatized enterprises and the development of competition puts for sale state stake in Hotel “Uzbekistan” for US$33 million.

Currently, the state owns 80.13 percent in the JV Otel O’zbekiston LLC, which manages the hotel building.

To participate in the competition, the potential buyer must pay a deposit of at least 15% of the initial price. The maximum term of payment is 3 years. The buyer undertakes investment obligations, within two years to invest 100 billion soums for the modernization and reconstruction of the hotel.

The owner will be obliged to maintain the main activity (hotel services) for 10 years, to preserve the exterior facade of the publication and to attract the best managers to manage the hotel.