Industry minister calls TALCO embodiment of economic reforms in Tajikistan

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TALCO is one the largest aluminum smelters within the CIS area and the only aluminum producing enterprise in Central Asia, confirming for many years the reputation of one of the most dynamically developing companies in Tajikistan, has become an embodiment of economic reforms in Tajikistan, reads his message of congratulations.

Prior to be appointed the Minister of Industry and New Technologies, Sherali Kabir had headed the TALCO Directors’ Board.

Headquartered in Tursunzoda, the Tajik Aluminum Company runs the largest aluminum manufacturing plant in Central Asia, and is Tajikistan's chief industrial asset.

Tajikistan has no native aluminum ore, so the raw material for the plant must be imported. Construction of the plant proper began in 1972, and the first pouring of aluminum took place on March 31, 1975.

The Tajik Aluminum Company, which is fully state-controlled enterprise, is one of the ten largest aluminum smelters in the world and the only aluminum producing plant in Central Asia.

Radio Liberty’s Tajik Service reported on December 4, 2019 that Tajikistan is on the cusp of selling a stake in TALCO to a Chinese company. RFE/RL cited China’s former ambassador to Tajikistan, Yue Bin, as saying that the acquisition would be executed in return for the Chinese company investing $545 million into the TALCO aluminum producer. Yue offered no details about the size of any stakes to be sold

TALCO has not commented publicly on the prospect of it being part-privatized. However, the conditions for sale have been created. By government’s decree TALCO was converted from a state unitary enterprise into an open joint-stock company on November 1, 2019. Although the shares all now belong to the government, a portion may in time be traded to private investors.

Source: Asia-Plus