Construction of Uzbek segment of gas pipeline to China enters

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Economy 07/01/2009 Construction of Uzbek segment of gas pipeline to China enters

Construction of Uzbek segment of gas pipeline to China enters "active phase"

Tashkent, Uzbekistan (UzDaily.com) -- The construction of the Uzbek part of the Uzbekistan-China gas pipeline worth US$2.975 billion enters an active phase in 2009.

Under the project, in 2009, the Uzbekneftegaz (Uzbek oil and gas) national holding company intended to use the Chinese company CNPC’s (China National Petroleum Corporation’s) direct investments worth US$244.35 million.

The project is included in the targeted investment projects programme for 2009, to fund which direct foreign investments and loans are to be attracted. The programme is approved by the head of state.

Uzbekneftegaz and CNPC set up a joint venture in April 2008 to build the gas pipeline.

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