The net profit of the largest cement producer in Uzbekistan, Qizilqumsement, doubled in January-June 2020 compared to January-June last year, up to 206.04 billion Uzbek soums (20.18 million US dollars). Sales revenue increased by 33.6 % YoY, up to 987.9 billion soums ($ 96.8 million).
As of today, the investment company UzAssets is looking to find buyers for the state stake in Qizilqumsement and plans to sell it to private investors (including foreign investors). The largest shareholder of Qisilqumsement is the building materials association of Uzbekistan with 51.02 % and the state share is 35.9 %, while minority shareholders have 13.8 %.
Today, 30 specialized enterprises are engaged in the production of cement in Uzbekistan, with the leading producers being Qizilqumsement, Akhangarancement, Quvasoycement, Bekabadcement and Almalyk mining and metallurgical plant. The total design capacity of cement enterprises in Uzbekistan is over 12 million tons of cement per year.
