Tashkent, Uzbekistan (UzDaily.com) -- On 2 December, Tatneft signed an agreement with Uzkimyosanoat in Samarkand to buy out the Uzbek enterprise Birinchi Rezinotekhnika Zavodi, an Interfax correspondent said from the signing ceremony.

As a result of the transaction, Tatneft will receive 100% control over the enterprise.

As reported, Tatneft and Uzkimyosanoat planned to create a joint venture on the basis of Birinchi Rezinotekhnika Zavodi. The corresponding agreement was signed in November 2019. It was assumed that BRZ would be integrated into Tatneft’s tire business.

Also, during the visit of the Prime Minister of the Russian Federation Mikhail Mishustin to Uzbekistan, the General Director of Tatneft, Nail Maganov, and the Chairman of the Board of Uzbekneftegaz, Mekhriddin Abdullayev, signed a memorandum of understanding.

The BRZ was founded in 2014 by a decree of the President of the Republic of Uzbekistan “On measures to organize the construction of a rubber products plant on the territory of the Angren free industrial zone in the Republic of Uzbekistan”.

Since July 2018, production has begun with an annual production capacity of 3 million car tires, 200 thousand agricultural tires and 100 thousand linear meters of conveyor belt.

In 2021, the enterprise manufactured 244.9 thousand tires, 4.63 thousand tires for agricultural machinery and 29.7 thousand running meters of conveyor belts. Automobile and agricultural tires are produced under the BARS brand.