The state has put its 49.07% stake in the joint venture UzXCMG, located in Urgench, Khorezm region, up for electronic auction. This information was obtained from E-auksion data.
UzXCMG is engaged in the production of equipment for underground work and the mining industry. The initial price for the state package is set at 140.53 billion soums, and the deposit amount for participating in the auction is 4.22 billion soums, which corresponds to 3% of the starting price.
The auction is scheduled for October 19th at 10:00, with applications accepted until 9:00 on the same day. The bidding process will proceed by price increment, and the auction step is set at 1% of the initial cost, equivalent to approximately 1.41 billion soums.
The plant is located at Sanatchilar Street in Urgench. The total area of the enterprise's land plot is 5.99 hectares, and the area of buildings and structures according to documents is 23 thousand square meters, while the actual area is 24.4 thousand square meters.
Sale Conditions
According to the official announcement, the buyer acquires the state share in the charter capital, assuming all existing creditor and debtor obligations of the enterprise. Investors are offered several payment options.
Initially, 15% of the purchase price must be paid within thirty calendar days. The remaining amount can be repaid in an interest-free installment plan within the timeframe established by legislation. However, special provisions apply to state assets whose value exceeds 23 thousand basic calculation units:
- If 50% of the cost is paid within six months, the remaining amount can be paid in an interest-free installment plan over seven years.
- Upon full payment within six months, the buyer receives a 25% discount on the total amount.
Furthermore, buyers who pay at least 35% of the cost of the state asset being sold in installments in a lump sum have the right to use this amount as collateral for obtaining a loan.
Plant's Financial Status
In 2025, UzXCMG demonstrated an improvement in financial indicators compared to the previous year. The enterprise's total revenue increased from 424.1 billion to 502.4 billion soums, and net revenue rose from 416.6 billion to 481.4 billion soums.
While the plant incurred a net loss of 1.47 billion soums in 2024, it earned a net profit of 29.95 billion soums in 2025. Nevertheless, based on the first quarter of 2026, the enterprise recorded a loss again—1.39 billion soums.
As of April 1, 2026, the plant's accounts payable reached 248.34 billion soums, and accounts receivable reached 154.72 billion soums, creating a difference of 93.63 billion soums. The total value of the plant's assets for the first quarter grew to 418.8 billion soums compared to 301 billion soums at the end of 2025.
According to the enterprise passport, 159 employees are employed at the plant. The Uzbek-Chinese joint venture UzXCMG began operations in Urgench in 2014. Its founders are 'Uzbekistan Railways' and the Chinese Xuzhou Construction Machinery Group (XCMG). The enterprise specializes in manufacturing hydraulic excavators, construction and specialized machinery, as well as their servicing.
Planning for the sale of the state package of the plant began back in 2023 when it was included in the program for privatization of state assets.