Uzbekistan’s State Property Committee again pushed back the date of a tender for the sale of 35.55% of the shares in the country’s biggest coal producer, Uzbekugol, a source at the committee told Interfax.

As no competitive bids have been forthcoming, the bidding deadline has been extended until November 20, he said. The property committee still plans to announce the tender results before the end of this year.

The starting price for the shares is US$30.58 million. Preference will be given to the bidder who offers the highest price for the shares and undertakes to invest US$232 million in the coal producer.

Uzbekistan called a previous tender at the beginning of October last year, but that tender was called off as no competitive bids were received. A new tender was called in April 2007 and then extended in July and again in September.

Uzbekugol produces more than 90% of Uzbekistan’s coal. Uzbekugol mines the Angren lignite coal field in the Tashkent region, which is Uzbekistan’s biggest and has proven reserves of more than 1.9 billion tonnes of coal.

The state owns 86.55% of the shares in Uzbekugol, employees 5% and other minority shareholders 8.45%.