Doniyor Komilov expands his business portfolio in Uzbekistan with acquisition of "Trest-12"

One of Uzbekistan’s leading construction companies, "Trest-12," has been privatized, with the state’s 51.1% stake sold for 111 billion UZS. The buyer, Delta Global Dynamics, is fully owned by Doniyor Komilov, son of the former Foreign Minister. This acquisition makes Komilov the primary owner of a company that has attracted media attention for securing trillion-UZS projects without tenders.

Who is Doniyor Komilov?

Doniyor Komilov is the son of Abdulaziz Komilov, one of Uzbekistan’s most influential politicians. Abdulaziz Komilov served as Foreign Minister for many years and currently holds the position of Deputy Secretary of the Security Council for Foreign Policy and Security Issues.

Until recently, Doniyor Komilov was largely unknown to the general Uzbek public. However, in 2021, his company Metropol Group LLC purchased the former National Security Service headquarters in central Tashkent for 210 billion UZS, drawing public attention.

In February 2023, another company owned by Komilov, First Premium Alliance LLC, privatized Kokand Biochemistry JSC, the largest alcohol production plant in Uzbekistan.

By 2024, Petroleum Technology Group, another company linked to Komilov, acquired the Chinoz Oil Refinery and UNG Petro fuel station network, previously owned by Uzbekneftegaz. The fuel stations were later rebranded as Carvon, making it the largest gas station network in Uzbekistan. However, details about how these assets transitioned from state ownership remain unknown, as no official information has been disclosed regarding the transactions.

According to the company and organization registry, Doniyor Abdulazizovich Komilov directly owns stakes in at least 10 companies in Uzbekistan. Additionally, open sources provide numerous reports about his major assets in Russia. Between 2010 and 2014, he was the head of Gazprombank’s Managing Company – Strategic Assets JSC, and from 2015 to 2016, he was a board member of "Uralmashzavod."

In summer 2023, reports surfaced suggesting that Komilov had become a beneficiary owner of Ural Mining and Metallurgical Company, one of Russia’s largest copper producers.

About "Trest-12"

The privatized "Trest-12" is not a newly established company. Its history dates back to 1979, when Trust No. 12 was formed under the order of "Boshtoshkentqurilish" to carry out public construction projects.

Over the years, "Trest-12" has been involved in major projects, including the reconstruction of the Cabinet of Ministers building, the National Library, Minor Mosque, the Ministry of Finance building, the Management Development Institute of Singapore, Bunyodkor Stadium, and HYATT Regency Hotel. One of its latest large-scale projects is the construction of the Islamic Civilization Center.

In 2021, media reports began surfacing about "Trest-12" receiving large state contracts without tenders. Following public scrutiny, the Anti-Corruption Agency investigated the company and found that it had been awarded projects worth almost 5 trillion UZS without a tender.

According to the agency’s director, Akmal Burkhanov, most of these non-competitive contracts involved conflicts of interest, as the then-Minister of Construction, Botir Zakirov, had both his son and wife listed among the company's shareholders.

In response to these revelations, the minister commented on the situation:

"The direct allocation of certain projects to Trust-12 has its justifications. The company has a long-standing history, delivers high-quality work, meets deadlines, and complies with strict regulations that not all companies can adhere to.

However, the decision to award projects directly is not mine to make—it is determined by the Cabinet of Ministers. As for the widely discussed 450 billion UZS, I have no knowledge of it; I focus on my own responsibilities. There is no direct connection between me and Trust-12."