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.
At a glance
- The Hektaş Asia facility under construction in Tashkent is scheduled to begin operations in 2027 and is intended to serve Uzbekistan and neighboring Central Asian markets.
- OYAK and the Oman Investment Authority established a joint investment fund of $500 million after signing four agreements during President Erdoğan's visit to Oman in October 2025.
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.
Weekly industry roundup and trade fair calendar
Every week, we email you a summary of the week in the industry and a calendar of upcoming trade fairs.
To complete your subscription, click the confirmation link in the email we send you.
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.