'NBU INVEST GROUP' invests 14.8 billion in 'Rishton To'qimachi' LLC over 2009-2015
The National Bank for Foreign Economic Activity of the Republic of Uzbekistan is the leading investment bank in the financial market of our country. Currently, through one of its investment companies, which is «NBU INVEST GROUP», the Bank successfully manages 20 subsidiaries established on the basis of bankrupt enterprises in such strategically important areas as processing of agricultural and food products, construction materials and textile production, and others. One such enterprise is «Rishton To'qimachi» LLC, which is functioning in the city of Rishton.
«Rishton To'qimachi» LLC was established by the National Bank in 2011 on the basis of the bankrupt company. The company specializes in the processing of cotton fiber and production of cotton yarn and is located in Fergana region. Due to the bank's financial support to the company a number of activities were implemented to improve the quality of production. In particular, a modern spinning technology of the German company Trutschler was installed, which allows for the manufacturing of 8 tons of finished products per day. In addition, owing to the financial assistance from the bank, more than 100 jobs have been created in the company.
- Today, our company employs 109 workers. Of these, more than 70% are young people, graduates of professional colleges. Next year we are going to create 20 new jobs. It is worth mentioning that our company has created all conditions for workers, including 3 meals a day, a relaxation room and other facilities, says Dilorom Yuldoshkhudjaeva, the Chairperson of the Trade Union of «Rishton To'qimachi» LLC.
It is worth noting that during the production process special attention is paid to technical control over the products. In the laboratory, the staff controls the quality of yarn going for the production as well as parameters of fabric production. Due to high quality products as of September 1, 2015 goods for more than 635 thousand dollars have been exported. The finished products are exported to various regions of the Russian Federation and the People's Republic of China. It should be noted that the work carried out by the National Bank and its investment companies on financial improvement and restoration of production at bankrupt enterprises significantly contributed to the achievement of these indicators.
It must be said that the National Bank for Foreign Economic Activity transferred some subsidiaries for the management by the investment company «NBU Invest Group», 15 of which were sold to new owners. Currently «NBU Invest Group» manages 5 companies in a variety of industries: textile, construction, leather, agro-processing industry and other areas of production.
- Due to the investment activity of our investment company 14.8 billion soums were invested for the recovery of production, modernization and provision of necessary working capital to "Rishton To'qimachi" LLC from 2009 to 2015, - noted the Head of Asset Management and Financial Analysis Department of the «NBU INVEST GROUP» Investment Company, Alisher Salimov.
In addition, in the framework of asset management of subsidiaries, established on the basis of bankrupt enterprises’ property, «NBU Invest Group» carries out business planning, marketing, and monitoring of enterprises, distribution channel and relation management with suppliers, staff, as well as cost and performance analysis. The ultimate goal is to maintain production activities of enterprises and sell them to strategic investors.