Tashkent, Uzbekistan (UzDaily.com) — The Agency for State Asset Management of the Republic of Uzbekistan has announced the launch of open auctions for the sale of state shares in the authorized capitals of three leading enterprises in the country’s automotive industry: Uzsungwoo LLC, Avto Climate Control LLC, and Uz Truck and Bus Motors LLC.

As part of the privatization program, the government is offering 50% of its stake in Uzsungwoo LLC, 100% of its stake in Avto Climate Control LLC, and 34.2% of its stake in Uz Truck and Bus Motors LLC.

The privatization process is being overseen by Portfolio Investments, a consulting firm responsible for managing the sale in accordance with an industry-specific approach.

Founded in 2011, Uzsungwoo is one of the leading manufacturers of metal components for the automotive industry. The plant was established with the participation of Uzavtosanoat JSC and South Korean companies Sungwoo Hitech Co. Ltd. and I-Zone Co. Ltd.

The company’s production capacity is designed for the output of 120,000 sets of parts per year, with a workforce of over 1,000 employees. In 2022, it introduced hot stamping technology, a first for Central Asia and the CIS. The plant produces components for Chevrolet Cobalt, Gentra, Tracker, and Onix models. Its authorized capital stands at $14 million.

Avto Climate Control was founded in 2010 with the participation of Uzavtosanoat JSC and South Korea’s ERAE CS LIMITED. The company specializes in the production of heating and cooling systems for automobiles. Its authorized capital is 12.5929 billion soums.

Established in 2009, Uz Truck and Bus Motors manufactures commercial and passenger vehicles under the MAN and HOWO (Sinotruk) brands. The company’s model lineup includes over 60 types of trucks, such as tractor units, dump trucks, vans, and specialized vehicles with payload capacities ranging from 5 to 70 tons, as well as city and intercity buses. Its authorized capital amounts to €32.8 million.

The privatization process will take place in two stages: Expression of Interest (EOI) and Submission of Binding Offers (BO).

Applications for participation must be submitted by 15 April 2025.