CNPC to become founder of UzIndoramaGasChemical
17/09/2013 12:59
CNPC to become founder of UzIndoramaGasChemical
17/09/2013 12:59
Tashkent, Uzbekistan (UzDaily.com) -- China National Petroleum Corporation (CNPC) will become one of founders of the joint venture UzIndoramaGasChemical on construction of gas chemical complex in Uzbekistan with the cost of US$2.5 billion.
UzIndoramaGasChemical has been implementing a project on construction of gas chemical complex in Kashkadarya region of Uzbekistan. The Chinese company said it signed a memorandum of understanding with Uzbekneftegaz of Uzbekistan and Indorama Group of Singapore on participation in the project.
The sides will complete process of distribution in the joint venture by the end of 2013. This will help to increase economic efficiency of the project and attract additional investments into the project.
In May 2012, Uzbekneftegaz and Indorama Group created a joint venture on construction of gas chemical complex based on Mubarek Gas Processing Plant.
The capacity of the plant will make up 492,000 tonnes of polyethylene, 66,000 tonnes of gas condensate and 53,000 tonnes of pyrolized petroleum a year.
The construction of the plant will start in early 2015 and completed within three years.
The project cost is US$2.5 billion and it will be financed due to attracted resources of the founders of the joint venture.
Mubarek gas processing plant has been commissioned in 1971. Currently the capacity of the plant is about 30 billion cubic meters of natural gas and over 570,000 tonnes of gas condensate a year.
$ 1 | 12697.00 | 0.000% |
1 | 13547.70 | 0.000% |
₽ 1 | 135.05 | 0.000% |