In the special industrial zone \"Angren\" as part of a modern production base, motor oils with complete technological cycle of collection and recycling of waste industrial oils will be organized in two joint ventures - Uz-Ecoprotect and Uz-Prista Recycling, with the participation of Bulgarian investors.

Uz-Ecoprotect will focus on collection, storage and transportation of used industrial oils. It will be founded by Uznefteprodukt (49%), and Prista Recycling (51%), with statutory fund of $1 million.

In turn, Uz-Prista Recycling is based on the unused areas of the former Rezinotekhnika and will specialize in recycling waste oils. Its authorized capital will reach $15 million, where Uznefteprodukt will have 49%, and Prista Recycling will own 51% stake.

State Property Committee of Uzbekistan is selling at a zero redemption cost the unused area of the former Rezinotekhnika to the Bulgarian investor with registration of ownership rights after the enterprise fulfils its investment commitments. In particular, the investor within three years from the date of signing the agreement shall invest $15 million for design and construction works, supply and installation of modern technological equipment for processing of used industrial oils of up to 43 thousand tons per year and production of base oils.

Earlier, the Bulgarian company Prista Oil Holding purchased a 50.1% stake of Texaco Overseas Holdings Inc. in joint Uzbek-American company Uz-Texaco. The company was later renamed to Joint Venture Uz-Prista, which was exempt till January 1, 2015 from customs duties for imported technological and laboratory equipment, components and spare parts and building materials, not manufactured in the country. (Source: “Uzbekistan Today” newspaper)