UzOman Becomes a Partner of Hektaş in Uzbekistan

UzOman, the joint investment company of the Oman Investment Authority (OIA) and the Government of Uzbekistan, became a 33.3% shareholder in Hektaş Asia LLC—Hektaş’s investment in Uzbekistan and an OYAK group company—through a capital increase of USD 24.9 million. Hektaş, which will continue to play an active role in management and strategic decisionmaking processes as the majority shareholder, aims to establish a permanent production infrastructure in the Turkic Republics and provide local and competitive access to regional markets through its investment in Uzbekistan.

OYAK has launched a new collaboration to strengthen its investments in Central Asia as part of its ongoing strategic partnership with the Oman Investment Authority (OIA). Within this scope, UzOman Investment Company, a joint investment company established by the OIA and the Government of Uzbekistan, has acquired a 33.3 per cent stake in Hektaş Asia LLC, an investment by OYAK company Hektaş to establish a state-of-the-art agricultural chemicals factory in Uzbekistan, which is currently under construction.

The collaboration reflects OYAK and OIA's shared strategic vision for developing industry in emerging markets, strengthening regional integration, and generating sustainable economic value. The project, implemented in the Uzbek-Turkish Organised Industrial Zone in Tashkent, aims to contribute to regional food security through the production of advanced agricultural chemicals, while also increasing local production and export capacity in Central Asia. 

Sustainable profitability and contribution to growth
The partnership, which stands out as an important step in OYAK's vision of creating long-term value in international markets, was formalised at a signing ceremony held in Istanbul. The agreement was signed by Hektaş General Manager Enis Emre Terzi and UzOman Investment Director Mohammed Al Abri. Speaking at the signing ceremony for the partnership agreement, OYAK General Manager Murat Yalçıntaş said, "At OYAK, we prioritise projects that create added value and provide direct investment and financing from abroad. Within the scope of the Hektaş Asia partnership, while securing resources from abroad, the majority stake being held by Hektaş, and therefore OYAK, is a strategic gain. This investment, which will contribute to Hektaş's sustainable profitability, also supports our goal of creating long-term and stable returns for OYAK and our members."

Growth vision in Central Asia
Yalçıntaş emphasised that UzOman's partnership with Hektaş Asia reflects OYAK's global growth approach, stating: “This significant investment, implemented by Hektaş Asia LLC in Uzbekistan, one of Central Asia’s fastest-growing economies, strengthens Hektaş’s international production and export capacity while directly supporting OYAK’s long-term investment strategy that creates regional impact. This investment is more than just a production facility; it is a concrete reflection of an integrated industrial approach that focuses on knowledge, technology and human resources." 

As OYAK, we focus on projects that support local development, strengthen regional integration and generate lasting economic value in the long term in every region where we operate. This project is also one of the cornerstones of our growth vision in Central Asia. Omar Bahram, CEO of UzOman Investment Company, also highlighted the strategic importance of the partnership for Uzbekistan, stating, "We are pleased to collaborate with Hektaş Asia through UzOman to localise advanced agricultural input production in Uzbekistan. This investment will support food security, reduce import dependency and position Uzbekistan as a regional centre for agricultural solutions in Central Asia."

Focus on regional production and export
The facility, currently under construction on a site of approximately 100 hectares in the Uzbek-Turkish Organised Industrial Zone near Tashkent, is scheduled to commence operations in 2027. Designed to cover both the domestic market and exports to neighbouring Central Asian countries, the investment supports OYAK's goal of establishing highly competitive industrial investments on a regional scale. Hektaş General Manager Enis Emre Terzi stated that Hektaş has positioned Central Asia as one of the priority
regions in its growth and international expansion strategy, with Uzbekistan occupying a special place in this strategy. Terzi said that with the international financing contribution received, Hektaş is moving forward with the goal of becoming an effective player in the global agricultural ecosystem, focused on generating long-term and sustainable value. Under the agreement, UzOman Investment Company and Hektaş will focus on the  local production of plant protection products and organo-mineral fertilisers through Hektaş Asia LLC, a  company operating in Uzbekistan.

Information Note

About Hektaş and OYAK
Established in 1956, Hektaş Ticaret T.A.Ş. is one of Turkey's leading agricultural input companies,
operating in the fields of plant protection and plant nutrition products, as well as seeds. While expanding
its current product range, Hektaş offers products that are respectful of people, the environment, and
nature, and are suitable for sustainable agricultural practices, in line with the needs and expectations
of producers. The majority shareholding of Hektaş belongs to the Turkish Armed Forces Mutual Aid
Association (OYAK), Turkey's largest supplementary pension fund, which operates with a long-term,
institutional investment approach across numerous sectors and geographies.

About UzOman Investment Company
UzOman Investment Company is a joint investment company established by the Oman Investment
Authority and the Government of the Republic of Uzbekistan. The company's mission is to invest in
strategic sectors of the Uzbek economy, facilitate international partnerships, ensure the transfer of
knowledge and technology, and support economic development.