A major project totaling US$1.7 billion is being implemented in Kashkadarya
09/04/2021 16:19
A major project totaling US$1.7 billion is being implemented in Kashkadarya
09/04/2021 16:19
Tashkent, Uzbekistan (UzDaily.com) -- Currently, work is underway within the framework of the project "Expansion of production capacities of the Shurtan gas chemical complex" in Guzar district of Kashkadarya region.
The cost of the project is approximately US$1.7 billion, as a result of the processing of 430 thousand tons of naphtha produced at the GTL plant, it is planned to produce up to 280 thousand tons of high liquidity polyethylene and up to 100 thousand tons of polypropylene per year.
To finance the project, a loan of US$300 million was raised from the Russian JSC Gazprombank.
In addition, work is underway with the State Development Bank of China and other financial institutions in order to attract credit funds on the basis of project financing.
Until now, the project has developed advanced basic design (FEED) and marketing research by large foreign highly qualified companies.
To implement the project, a contract was signed with the Singapore company "Inter Engineering" for detailed design, procurement of equipment and construction.
To date, the ERS contractor has involved 375 highly qualified specialists in the project.
An order was placed for the production of 73 main technological equipment out of 383 units.
To determine prices for finished products, the results of a polymer market research conducted in August 2020 by the British company IHS Markit were used.
As a result of the implementation of this project, the volume of production of polyethylene and polypropylene will be increased in Uzbekistan, which will create the basis for the production of high-quality and export-oriented goods.
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