607850 - Navoiyazot preparation for privatization support

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Summary of Advisory Services Project Information

Project Number

607850

Primary Business Area

Manufacturing, Agribusiness & Services

Disclosure Date

Jun 9, 2023

Country

Uzbekistan

Region

Central Asia and Turkiye

IFC Approval Date

Mar 20, 2023

Status

Active

Estimated Total Budget

$250,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Jun 9, 2023

Project Estimated Start Date

Project Estimated Start Date Pending

Project Estimated End Date

Project Estimated End Date Pending

Project Description

In the framework of the second Tashkent International Investment Forum held in the capital on April 28, an agreement was signed between the State Assets Management Agency and the International Finance Corporation (IFC) to assist the government in the privatization of Navoiazot JSC. According to the agreement, the IFC will serve as a strategic advisor in the pre-privatization preparation process of Navoiazot JSC, one of the leading chemical and fertilizer companies in Uzbekistan and Central Asia. The need to carry out pre-privatization preparation of Navoiazot JSC was established by the Decree of the President of Uzbekistan No. 388 dated October 10, 2022. The pre-privatization preparation will help the country's government develop an optimal strategy for privatizing one of its largest state assets. The subsequent privatization of Navoiazot JSC will facilitate the inflow of private investments into Uzbekistan's chemical industry, its modernization, and the growth of efficiency and competitiveness in this fundamental sector of the country's economy. About Navoiazot JSC: Navoiazot JSC is one of the largest enterprises in Uzbekistan's chemical industry, involved in the production of mineral fertilizers, chemical reagents, and other low-tonnage chemical products. Producing over 30% of Uzbekistan's chemical output, Navoiazot is a key chemical company covering various sectors including chemical industry, agriculture, mining and the fuel and energy sector.

Development Results

The Project would support Uzbekistan in increasing private sector participation in the modernization of Uzbekistan’s chemicals sector, which will help to create a thriving and globally competitive private sector-led industry that will produce new and better jobs, reduce Uzbekistan’s carbon footprint, and further promote private investments. The availability of high quality and affordable fertilizers will contribute to improving farmers’ incomes and to ensuring food security.

E&S Risks / Impacts and Mitigation

Performance Standard	Description and Potential Impact	Mitigation
PS 1. Assessment and Management of Environmental and Social Risks and Impacts	In line with IFC's Sustainability Policy, the IFC team will recommend screening this project to assess consistency with IFC's Performance Standards.	IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards (PS). The IFC team will assist the Client, as the final decision maker, in gaining a good understanding of IFC's Performance Standards.
PS 2. Labor and Working Conditions	In line with IFC's Sustainability Policy, the IFC team will recommend screening this project to assess consistency with IFC's Performance Standards.	IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards (PS). The IFC team will assist the Client, as the final decision maker, in gaining a good understanding of IFC's Performance Standards.
PS 3. Resource Efficiency and Pollution Prevention	In line with IFC's Sustainability Policy, the IFC team will recommend screening this project to assess consistency with IFC's Performance Standards.	IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards (PS). The IFC team will assist the Client, as the final decision maker, in gaining a good understanding of IFC's Performance Standards.
PS 4. Community Health, Safety and Security	In line with IFC's Sustainability Policy, the IFC team will recommend screening this project to assess consistency with IFC's Performance Standards.	IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards (PS). The IFC team will assist the Client, as the final decision maker, in gaining a good understanding of IFC's Performance Standards.
PS 6. Biodiversity Conservation and Sustainable Management of Living Natural Resources	In line with IFC's Sustainability Policy, the IFC team will recommend screening this project to assess consistency with IFC's Performance Standards.	IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards (PS). The IFC team will assist the Client, as the final decision maker, in gaining a good understanding of IFC's Performance Standards.

This Summary of Advisory Services Project Information (ASPI) is prepared by IFC to disclose a factual summary of the main elements of this advisory services project. It may also include findings and recommendations related to environmental and social considerations regarding this project. The purpose of the ASPI is to enhance the transparency of IFC's activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the client. IFC considers that this ASPI is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein.
It is distributed within sixty days of project's approval and may be updated periodically afterwards. Total budget and start dates are estimates only. The following ASPI is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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