The government of Uzbekistan has developed measures for the financial stabilization of a major corporate group comprising Enter Engineering, Eriell, and Saneg. According to a source from Podrobno.uz, the holding's wage debt to 38.7 thousand employees reached $131 million as of January 2026. To settle this debt, the Cabinet of Ministers has approved a plan for a large-scale sale of the group's assets.
A special entity, Saneg Aktiv, is being established in collaboration with the State Assets Management Agency (SAMA) to handle the asset sales. All proceeds from the sales will be accumulated in a special account at the National Bank of Uzbekistan and directed primarily toward wage payments, followed by taxes and loans. If demand for objects on the E-Auksion platform is low, their value will be reduced by 5% weekly.
Concurrently with the asset sales, the government is seeking new investors to complete strategic projects, including the Tebinbulak metallurgical complex, modernization of the Fergana Oil Refinery, a gas-chemical complex project based on MTO (Methanol to Olefins), and a project to modernize Bukhara Airport. During the stabilization period, the group has been granted a tax deferral until January 1, 2027, but this will only take effect after full repayment of debts to workers.
The publication's source also reported that Alisher Khamidov, deputy director of Enter Engineering, promised to pay employee salaries by March 15. He added that the funds are linked to the sale of the Gazli Gas Storage underground gas storage facility, though details on the buyer, terms, and specifics of the sale were not disclosed. Furthermore, Khamidov has asked employees not to leave the company and to “endure,” asserting that “liquidation will not occur.”
It is worth noting that Enter Engineering is the main construction contractor for infrastructure development around the nuclear power plant in Jizzakh. The source emphasized that the company will have to resume construction by any means necessary, as partial payment for this project has already been made.
According to the source, Bakhtiyor Fazilov, owner of Eriell Group and Enter Engineering, was notified in January of this year about his removal from all energy projects as the “main contractor.” Previously, the State Labor Inspectorate had recovered wage arrears for over 12.7 thousand workers of Enter Engineering and related enterprises.
The source highlights that wages have indeed started to be deposited into employees' accounts, but only for one month, despite debts accumulating since 2025. Notably, the salary approved during interviews for all Enter Engineering employees differs significantly from that recorded in documents. For most workers, the official salary is around 2 million soums, and it is at this level that the company plans to repay the debts.
Source: podrobno.uz