Tashkent, Uzbekistan (UzDaily.com) – This fall, the Uzbek-Iranian joint venture Petrochem Sepehr will be launched in Bukhara region, according to the press service of the Chamber of Commerce and Industry.

Acting Deputy Head of the CCI Umid Pazilkhanov and newly elected head of the Bukhara Regional Branch Shokhrukhali Sadillayev inspected the construction site. The complex is being built by the Uzbek-Iranian joint venture Petrochem Sepehr.

The project is estimated at approximately US$274 million. Over 10 projects are planned to be implemented within the cluster, creating around 600 jobs.

The project will produce pentane, hexane, benzene, toluene, dimethyl carbonate, ammonium bicarbonate, caustic soda, potassium sulfate, and other products.

It is forecasted that the total value of the products manufactured will reach up to US$240 million annually, with exports amounting to about US$82 million per year.

Additionally, the project is expected to substitute imports worth US$123 million. Tax revenues from the enterprise are projected to be 214 billion soums per year. The plant is scheduled to start operations in September this year.

The cluster project was presented to President Shavkat Mirziyoyev during his visit to the Bukhara region at the end of May. At that time, it was announced that the complex, with a production capacity of 460,000 tons, was planned to be launched in two months, i.e., by the end of July – early August.