BAKU, Azerbaijan, Oct. 26
By Fakhri Vakilov-Trend:
Uzbekistan’s President Shavkat Mirziyoyev signed a decree that canceled the decision to transfer Uzbekistan Railways’ stake in the authorized capital of Uzbekcoal to the trust management of Russian ProgressGorTech multi-profile company, Trend reports citing Uzbek media.
The name of the company "Progress Gore Tech" in the document is replaced by the words "trustee", and the "Roadmap" to improve the efficiency of the activities of Uzbecoal in the framework of trust management is canceled.
Russian company was included in the roadmap for the development of the coal industry by the March decree of the president on increasing the management efficiency of Uzbekcoal JSC.
ProgressGorTech was supposed to manage 45 percent of the shares of Uzbekcoal.
Uzbekcoal (together with the Shargunkumir enterprise) in July 2017 was transferred to the Uzbekistan Railways by a resolution of the head of state. In November of that year, it was transformed into a unitary enterprise.
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