The key facts
- The state's 49.07 percent stake in UzXCMG has been put up for e-auction with a starting price of 140.53 billion soums; the auction will be held on October 19.
- In 2025 the plant earned a net profit of 29.95 billion soums, but in the first quarter of 2026 it again suffered a loss of 1.39 billion soums.
- The sale of the state stake has been planned since 2023 under the state asset privatization program.
According to e-auction data, the state's 49.07 percent stake in the charter fund of the UzXCMG joint venture in the city of Urgench, Khorezm region, has been put up for electronic sale.
The enterprise specializes in manufacturing equipment for the mining industry and underground works.
The starting price of the state stake is 140.53 billion soums. The security deposit for participation in the sale is 4.22 billion soums, i.e. 3 percent of the starting price.
The auction will be held on October 19 at 10:00. Applications for participation will be accepted until 9:00 on that day. The sale will proceed in a price-increase format. The auction step is set at 1 percent of the starting price — approximately 1.41 billion soums.
The plant is located on Sanoatchilar Street in Urgench. The land plot area is 5.99 hectares. According to the documents, the area of buildings and structures is 23 thousand square meters, while the operational area is 24.4 thousand square meters.
Terms of sale
According to the announcement, the buyer will purchase the state stake in the enterprise's charter capital taking into account all its accounts payable and receivable obligations.
Several payment methods have been offered to investors.
Under the sale terms, 15 percent of the purchase value must be paid first within 30 calendar days. The remaining amount can be paid in installments without interest within the periods established by law.
Additional conditions have been set for state assets valued above 23 thousand base calculation units:
- If the buyer pays 50 percent of the value within six months, the remaining amount may be paid in installments without interest for up to seven years.
- If the asset value is paid in full within six months, a 25 percent discount is granted on the total amount.
In addition, a buyer who has paid at least 35 percent of the value of a state asset being sold on an installment basis may pledge it to obtain a loan.
The plant's financial condition
In 2025, UzXCMG improved its financial indicators compared to the previous year.
The enterprise's total revenue increased from 424.1 billion soums to 502.4 billion soums, and its net revenue increased from 416.6 billion soums to 481.4 billion soums.
While the plant ended 2024 with 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 suffered a loss of 1.39 billion soums.
As of April 1, 2026, the enterprise's accounts payable amounted to 248.34 billion soums, and accounts receivable to 154.72 billion soums. The difference between them reached 93.63 billion soums.
The total value of the plant's assets increased in the first quarter, rising from 301 billion soums at the end of 2025 to 418.8 billion soums.
According to the enterprise's passport, 159 people work at the plant.
The Uzbek-Chinese joint venture UzXCMG began operating in Urgench in 2014. Its founders were the Uzbekistan Railways company and China's Xuzhou Construction Machinery Group (XCMG).
The enterprise specializes in manufacturing hydraulic excavators, construction and special equipment, as well as providing maintenance services for them.
The sale of the plant's state stake has been planned since 2023. At that time it was included in the state asset privatization program.
