Uzbekneftegaz, Centrum Holding to establish railway JV to transport petroleum products

TASHKENT. June 25 (Interfax) - UNG Overseas, a subsidiary of JSC Uzbekneftegaz for international trade and investment, and Centrum Holding, an Uzbek transport and logistics company, plans to establish a railway joint venture to transport petroleum products, according to a statement from Uzbekneftegaz.

"UNG Overseas and Centrum Holding have signed a memorandum of strategic partnership in Tashkent. The parties plan to establish a railway logistics joint venture to transport petroleum products and develop a refinery-to-tanker export route as part of the agreement," according to the statement.

The project envisages the efficient use of logistics hubs, dry ports, and terminal facilities.

"The key goal of the initiative is to develop export logistics, reduce transportation costs, and preserve added value within the country. This partnership is expected to facilitate the expansion of UNG Overseas as a strategic platform for Uzbekneftegaz in the international arena," according to the press release.

Abu Dhabi-registered UNG Overseas is a wholly owned subsidiary of JSC Uzbekneftegaz. The company was established as Uzbekneftegaz's primary international interface for capital markets, commodity trading, and cross-border financing. UNG Overseas operates within the regulatory framework of the Abu Dhabi Global Market international financial center.

Centrum Holding is a logistics operator with a growing presence in Central Asia. The company operates 25 aircraft, 7,000 containers, and three warehouses, providing comprehensive logistics solutions connecting East and West.