Prista Oil Holding is creating 2 companies in the special industrial zone "Angren"
The Bulgarian company Prista Oil Holding is creating 2 new enterprises on the territory of the special industrial zone (siz) "Angren". It is founding the joint ventures "Uz-Ecoprotect" and "Uz-Prista Recycling" within the framework of creating a modern production of base engine oils with a completed technological cycle, which allows to collect and recycle refined technical oils.
Uz-Ecoprotect will deal with collecting, storage and transporting refined technical oils. It will be established like "Uznefteproduct"– 49% and Prista Recycling company (Bulgary) - 51%. The statutory fund of the new joint venture will be $1 mln.
JV Uz-Prista Recycling is created on the base of the unused premises of former PLC "Rezinotehnica", it will specialize in processing refined technical oils. Its statutory fund will $15 mln with the following share participation of the parties: "Uznefteproduct" – 49%, Prista Recycling company – 51%.
State Property Committee of Uzbekistan will sale the part of unused area of a former PLC "Rezinotehnica" to the Bulgarian party at zero redemption value. "Uzbekistan Today" informs that the property rights will be granted after accomplishing all investing obligations by the company.
For instance, within three years after the agreement is signed the investor will have to invest $ 15 mln in project, construction and installation activities, in the delivery and installation of modern technological equipment for processing refined oils in the volume of about 43 thousand tones per year and in the production of base oils.
