Uzkimyosanoat, CNCEC cannot sign contract for construction of PVC complex
02/06/2014 11:53
Uzkimyosanoat, CNCEC cannot sign contract for construction of PVC complex
02/06/2014 11:53
Tashkent, Uzbekistan (UzDaily.com) -- Uzkimyosanoat state joint stock company and China National Chemical Engineering Co.,Ltd (CNCEC) cannot sign a contract for construction of chemical complex for production of polyvinylchloride (PVC) on the basis of Navoiazot in Uzbekistan.
RIA Novosti reported quoting the source, familiar with the situation, that the Chinese company cannot provide acceptable financial terms of the projects and the Uzbek company is holding talks with other participants of the tender.
The source said that Uzkimyosanoat should submit a proposal to the Government of Uzbekistan on further variants of the project implementation – to re-announce tender or hold direct talks.
In September 2013, CNCEC won a tender for construction of a chemical complex on production of polyvinylchloride (PVC) on the basis of Navoiazot in Uzbekistan.
In line with the project, the tender winner should construct capacities for 100,000 tonnes of PVC, 64,000 tonnnes of caustic soda and 300 tonnes of methanol a year. The project will be implemented with 31 months.
The project with the cost of US$501.1 million will be financed due to own resources of the Uzbek side and loans of the foreign financial institutions.
Uzkimyosanoat has been trying to implement the project for five years. It attracted Russian firm Kaustik, Korean ISU Corp, and the UAE’s Mubadala Development to its implementation.
Navoiazot is a largest chemical plant in Uzbekistan, which was commissioned in 1964. It produces nitric fertilizers, nitronic fiber, as well as integrated production of organic synthesis.
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