...

China CAMC Engineering to produce polyvinyl chloride in Uzbekistan

Business Materials 20 August 2014 11:32 (UTC +04:00)

Tashkent, Uzbekistan, Aug.20
By Demir Azizov- Trend:

"Uzhimprom" State Joint-Stock Company (SJC) and China CAMC Engineering Co. Ltd. signed a contract for the construction of a chemical complex for the production of polyvinyl chloride (PVC), caustic soda and methanol on the basis of "Navoiazot" JSC in Uzbekistan worth $439.8 million, "Uzkhimprom" representative told Trend.

The contract was signed on Aug. 19 within the framework of President Islam Karimov's state visit to China.

A contract for the construction of the technological part on a "turnkey" has been signed, the agency said. Implementation period of the contract is three years.

It should be noted that Uzbekistan is planning to build a chemical complex of design capacity of 100 000 tonnes of PVC, 71.8 000 tonnes of caustic soda and 295.4 000 tonnes of methanol per year on the basis of "Navoiazot".

Funding for the $501.1 million-worth project will be implemented by the "Uzkhimprom", Fund for Reconstruction and Development of Uzbekistan and loans of international financial institutions.

In March 2006 the Russian "Caustic" JSC (Volgograd) and "Navoiazot" created a "Navoi-layer" joint venture for the implementation of the project of initial cost of $165.5 million. Subsequently, however, the Russian company refused to participate in the project on the existing technical and financial conditions.

In mid-2009 "Navoiazot" and Korean ISU Engineering established a joint venture "ISU Navoi Chemical" for the project of PVC and caustic soda production $180 million worth, but the project was halted due to revision of previously prepared OTEC project.
This year "Uzhimprom" could not sign a contract with the China National Chemical Engineering Company (CNCEC) which won the tender for the construction of chemical complex announced in May of last year. The reasons why the contract was not signed are not commented.

"Navoiazot" JSC (former Navoi chemical plant), the largest chemical company in Uzbekistan, was commissioned in 1964. The factory specializes in the production of nitrogen fertilizers, nitronic fiber as well as in integrated production of organic synthesis.

Tags:
Latest

Latest