The key facts
- The state's 49.07% stake in UzXCMG has been listed on E-auksion with a starting price of 140.53 billion soums; the auction is on October 19 at 10:00, the deposit is 4.22 billion soums
- Installment payments of up to seven years and a 25% discount for full payment within six months are provided
- In 2025 the plant earned a net profit of 29.95 billion soums versus a loss of 1.47 billion in 2024, but in Q1 2026 it recorded a loss of 1.39 billion soums
State Stake Put Up for Auction
The state's 49.07% stake in the charter fund of the UzXCMG joint venture in Urgench, Khorezm region, has been put up for electronic auction on the E-auksion platform. The starting price of the stake is 140.53 billion soums, and the deposit for participation is 4.22 billion soums (3% of the starting value). The auction is scheduled for October 19 at 10:00, with bids accepted until 9:00 the same day. The auction will be held with upward bidding, with the auction step set at 1% of the starting price — about 1.41 billion soums.
About the Enterprise
The plant is located on Sanoatchilar Street in Urgench on a plot of 5.99 hectares. According to documents, the area of buildings and structures is 23 thousand square meters, while the actual area is 24.4 thousand square meters. The Uzbek-Chinese JV UzXCMG began operations in 2014; its founders were Uzbekistan Railways and China's Xuzhou Construction Machinery Group (XCMG). The enterprise produces hydraulic excavators, construction and special equipment, including for the mining industry and underground work, and also provides its maintenance. According to the enterprise's passport, 159 people work at the plant. The sale of the state stake had been planned since 2023, when the plant was included in the privatization program.
Terms of Sale
The buyer will acquire the stake taking into account all of the enterprise's creditor and debtor obligations. The initial payment is 15% of the purchase price within 30 calendar days; the remaining amount can be paid in interest-free installments within the terms established by law. For assets worth more than 23 thousand base calculation values, additional conditions apply: when paying 50% of the price within six months, the balance can be paid in interest-free installments over seven years, and with full payment within six months a 25% discount is provided. Buyers who have paid at least 35% of the asset's value in a lump sum will be able to use it as collateral to obtain a loan.
Financial Position
In 2025, UzXCMG improved its performance: total revenues grew from 424.1 billion to 502.4 billion soums, and net revenue from 416.6 billion to 481.4 billion soums. While in 2024 the plant posted a net loss of 1.47 billion soums, in 2025 it earned a net profit of 29.95 billion soums. However, in the first quarter of 2026 the enterprise again recorded a loss of 1.39 billion soums. As of April 1, 2026, accounts payable amounted to 248.34 billion soums, accounts receivable — 154.72 billion soums, a difference of 93.63 billion soums. The value of assets grew over the first quarter from 301 billion soums at the end of 2025 to 418.8 billion soums.
