Lithuanian fertilizer producer and exporter UHB Group will up its stake in Uzbekistan’s JV Samarkand-NPK to 85% over the next year as part of an acquisition commitment with the Uzbek state, the company said on Dec. 14. UHB had previously acquired a 38% stake in the NPK fertilizer plant in October. UHB did not disclose the cost of the transaction.
The Samarkand-NPK fertilizer plant has capacity to produce 240,000 mt/y of NPK fertilizers but has been working at only partial capacity since it started operations in February 2016, according to an Interfax/BNS report, citing UHB Group’s Chairman of the Board Kestutis Pakalnis.
UHB’s Agro division focuses on the production of high quality NPK fertilizers, and, according to the report, currently can produce around 120,000 mt/y in Lithuania.
UHB’s activities cover a wide range of sectors, including agriculture, chemicals, logistics, and the food industry, but the major share of turnover – as much as 80% – is from the production and sale of fertilizers and chemicals, which the company said will be growing even more with this acquisition of the plant in Uzbekistan.