Ustyurt GCC to reach its designed capacity by the mid of 2016

The construction and assembly works were completed at the complex in the fourth quarter. The first party of polyethylene was produced in the end of October and the first party of polypropylene. The complex is expanding its capacities and will reach its designed capacity in the middle of 2016.

Ustyurt Gas Chemical Complex already started to export its products to Turkey and Eastern Asian countries. In particular, it exported polyethylene and polypropylene.

Uz-Kor Gas Chemical was founded by Uzbek and Korean companies in May 2008 to develop, finance, construct and exploitation of integrated gas and oil processing project in Ustyurt region of Uzbekistan.

Uzbekneftegaz owns 50% stake in the joint venture, while Uz-Kor Gas Chemical Investment holds 50% share. Korea Gas Corporation (KOGAS), Honam Petrochemical and STX Energy are Korean founders of the venture.

The cost of the project is US$4.16 billion. The project participants will allocate US$1.4 billion and attract US$2.5 billion from financial institutions to implement the project.

Ustyurt Gas Chemical Complex will ensure processing of 4.5 billion cubic meters of gas and 4 billion tank gas, 400,000 polyethylene and 83,000 tonnes of polypropylene, as well as 102,000 tonnes of pyrolized petroleum and other products.