Oman backs $75m agro-chemicals project in Uzbek capital Tashkent

Muscat: Uzbek-Oman Investment Company (UzOman) — a joint investment fund established by the sovereign wealth funds of Oman and Uzbekistan — has announced the signing of agreements paving the way for the creation of a state-of-the-art agro-chemicals project in the Uzbek capital, Tashkent, with an investment of around $75 million.
The project, which will specialise in the production of advanced agricultural inputs, is expected to have benefits not only for the modernisation of Uzbekistan’s agricultural sector but also for Oman’s strategic food security goals. For Uzbekistan, the initiative will help reduce dependence on imported farm inputs. For the Sultanate of Oman, it will open up Uzbekistan as a new source of fruits and vegetables, contributing to more diverse, dependable and resilient food supply chains.
Significantly, Türkiye’s leading agricultural inputs company, Hektaş Ticaret TAS, has been brought in to invest around $50 million as the project’s strategic and operating partner. UzOman, as the minority equity partner, will contribute the remaining $25 million.
Welcoming the trilateral dimension of the partnership, UzOman noted in a statement: “The project represents a continuation and strengthening of the long-standing partnership between the Oman Investment Authority and Ordu Yardımlaşma Kurumu (OYAK), Türkiye’s largest complementary pension fund and the majority shareholder of Hektaş, reflecting a shared vision to promote industrial development, regional integration and sustainable long-term value creation”.
The manufacturing facility is planned for development within the Uzbek-Turkish industrial cluster in Tashkent. Slated for commercial launch in 2027, the plant will focus on producing advanced agricultural inputs locally, including crop protection products such as herbicides, insecticides, fungicides and other formulations, as well as organo-mineral fertilisers that support soil health and enhance farm productivity. It will feature modern production and packaging lines, quality control laboratories and environmentally compliant systems that meet international standards.
The latest announcement adds to a portfolio of investments through which UzOman has seen its assets under management (AUM) grow to an impressive $280 million by the end of 2024.

Established in 2010 as a joint venture between the Oman Investment Authority (OIA), with a 75% stake and the Uzbekistan Fund for Reconstruction and Development, with a 25% stake, UzOman has emerged as one of the leading investment companies in the Central Asian nation. Originally set up with a committed capital of $500 million, UzOman currently has a paid-up capital of $200 million.
UzOman’s investments are spread across strategic and high-growth sectors, notably Shopping Malls (43%), Business Centres (19%), Logistics Terminals (18%), Financial Assets (12%) and Hospitality, Education & Industrial Assets (4% each).
Key transactions in the past year included the sale of UzOman shares in Metall Konstruksiyalari (BMK), the country’s largest galvanising plant. The fund also became a shareholder in the Highway Logistics Centre, Uzbekistan’s premier dry port for truck logistics and expanded its real estate portfolio by acquiring a premier business centre within the Business Park Complex.