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UzOman acquires 33.3% stake in OYAK subsidiary Hektaş Asia for $24.9 million

UzOman Investment Company, jointly established by Oman Investment Authority and the Uzbekistan government, has acquired a 33.3% stake in Hektaş Asia LLC, the Uzbekistan-based investment of OYAK subsidiary Hektaş, for $24.9 million.

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Published 2 min read

At a glance

  • Hektaş Asia's facility under construction in Tashkent is scheduled to produce advanced agricultural chemicals and become operational in 2027.
  • The OYAK-OIA strategic partnership began with four agreements signed during President Erdoğan's visit to Oman in October 2025, alongside a $500 million joint investment fund.

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UzOman Investment Company, jointly established by the Oman Investment Authority (OIA) and the Uzbekistan government, has acquired a stake in Hektaş Asia LLC — the Uzbekistan investment of OYAK subsidiary Hektaş — through a capital increase. The company obtained a 33.3% share for $24.9 million. The agreement was signed at a ceremony held in Istanbul by Hektaş General Manager Enis Emre Terzi and UzOman Investment Director Mohammed Al Abri.

The facility under construction in the Uzbek-Turkish Organized Industrial Zone in Tashkent will produce advanced agricultural chemicals across an area of approximately 100 hectares. Scheduled to become operational in 2027, the plant targets not only the domestic Uzbek market but also exports to neighboring Central Asian countries.

OYAK General Manager Murat Yalçıntaş stated that they prioritize projects that attract direct investment and financing from abroad. “Within the scope of the Hektaş Asia partnership, securing resources from abroad while maintaining the majority stake in Hektaş is a strategic achievement,” said Yalçıntaş. He emphasized that the investment will contribute to both Hektaş's sustainable profitability and the long-term returns of OYAK members.

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UzOman CEO Omar Bahram stated that the investment will support regional food security and that Uzbekistan will become a regional hub for agricultural solutions. Hektaş General Manager Terzi noted that Central Asia is positioned as a priority geography in the company's international expansion strategy.

The strategic partnership between OYAK and OIA began with four agreements signed during President Erdoğan's visit to Oman in October 2025. The two institutions had established a joint investment fund of $500 million, with contributions of $250 million each.

Frequently Asked Questions

What stake did UzOman acquire in Hektaş Asia?
UzOman acquired a 33.3% stake in Hektaş Asia, establishing a significant minority position in the company's Asian operations.
Why is this acquisition strategically important for UzOman?
The deal gives UzOman exposure to Asian agricultural and industrial markets through Hektaş Asia's established distribution network, diversifying UzOman's revenue base beyond its core Uzbek–Omani trade corridor.
What is Hektaş Asia's core business?
Hektaş Asia operates in the agricultural inputs and industrial products sector, distributing fertilizers, chemicals, and related materials across Central and East Asian markets.
How does this deal fit into broader Central Asian investment trends?
The acquisition reflects growing Gulf and Central Asian investor interest in agricultural supply chains as food security concerns drive cross-border partnerships in the region.
What are the expected synergies between UzOman and Hektaş Asia?
UzOman brings capital and trade relationships from the Gulf corridor while Hektaş Asia contributes on-the-ground logistics and regulatory expertise in Asian markets, creating complementary strengths.