RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of July 27, 2023 No. PP-242

About measures for effective use of the operating capacities and ensuring production, demanded in the internal and external markets, in Fargonaazot Joint-stock company

For the purpose of further development of chemical industry, upgrade of the operating capacities of production of chemical products and production organization of new types of products with attraction of foreign investments, and also implementations of modern corporate management methods:

1. Take into consideration that based on the decision of State commission on holding tenders in case of sale of state-owned property following the results of the tender for privatization 99, of the 2 percent block of shares in the authorized capital of Fargonaazot Joint-stock company (further - Society) with condition of acquisition of the block of shares of Society for 130 million US dollars and 107 billion sum and introduction of investments by the winning bidder the Indorama Corporation Pte Ltd company is acknowledged.

2. To the ministry of investments, industry and trade of the Republic of Uzbekistan to sign the investment agreement with the Indorama Corporation Pte Ltd company on behalf of the Government of the Republic of Uzbekistan.

At the same time to provide:

introduction of investments in the amount of 100 million US dollars within 5 years by results of development of the feasibility statement on the project of upgrade of production capacities of Society;

preserving all existing social programs, including not reducing number of workers and the amount of payment of their work, advanced training of staff of Society, implementation of the principles of ecological, social and corporate management (ESG).

3. Determine that Society independently sells products in the internal and external markets directly or through the exchange biddings.

4. To Department of Energy, JSC UzGasTrade and JSC Uztransgaz according to the purchase and sale agreement about privatization of Society proceeding from opportunities of production and supply of natural gas to take measures for uninterrupted providing Society with natural gas within 10 years in the amounts necessary for production.

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