Eurocement appeals Supreme Court ruling on Ahangarancement

Eurocement appeals Supreme Court ruling on Ahangarancement
Published: 03 September 2014


The Supreme Economic Court of Uzbekistan has received an appeal from Eurocement Group on the court's decision to annul the privatisation of Ahangarancement, in which the Russian producer holds a majority stake.

On 21 July 2014, the Uzbek court declared Eurocement's 2006 privatisation of the cement plant invalid. Eurocement owns a 75 per cent stake in Ahangarancement, Uzbekistan's second-largest cement producer by capacity and market share. The ruling paves the way for the plant to be nationalised.

Interfax reported quoted a court source saying that Eurocement's appeal will be considered in mid-September. (Source: Uzbekistan Daily)