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Sugar factory in Kara-Balta sold to foreign invested company

A controlling stake (87.84 percent) of Aprosakh sugar factory in Kara-Balta was sold to Inkotes LLC. Website of the Kyrgyz Stock Exchange says.

It is noted that Central Depository CJSC transferred shares from nominal holding to the new owner on February 17, 2023.

It is known from open sources that Inkotes LLC was re-registered in January. It is located at the same address as Aprosakh OJSC itself, and is engaged in leasing its own real estate. Its head is Daniyar Mamyrzakov. At the same time, foreign participation in Inkotes LLC is indicated. The founder is Agrotrade Vostok Limited Liability Partnership. There is a company with this name in Kazakhstan. It sells wheat, barley, bran on terms of delivery to the destination.

It should be noted that Aprosakh sugar factory has been idle for many years. Previously, it was engaged in the processing of cane sugar. In addition, the company produced alcohol, baker’s yeast, wine and vodka products.

For the first time, the sale of a controlling stake in the factory was reported back in 2018. Then it became known that 32 hectares of land, an electrical substation and water management facility belonged to the property of the OJSC. The sugar factory with a processing capacity of up to 5,000 tons of beets per day is located on the same territory. In addition, the property of Aprosakh also includes a heating power plant, which provides heat to part of Kara-Balta city.