Uzbekistan postpones launching chemical complex construction

Business Materials 21 September 2012 17:24 (UTC +04:00)

Uzbekistan, Tashkent, Sept. 21 / Trend D. Azizov /

Uzbekistan has postponed launching the construction of a chemical complex producing polyvinyl chloride (PVC) on the basis of Navoiazot, worth $ 180 million for 2013, a source in government circles told Trend on Wednesday.

The interlocutor said that this postponement is connected with completing a feasibility study in the technological part of the project.

It was previously reported that the design institute completed considering the preliminary feasibility study in October last year. The preliminary feasibility study was expected to be approved in December. Meanwhile, the construction operations are planned to be launched in the first half of 2012.

Three years ago, Navoiazot and the ISU Corp. (South Korea) established a joint venture between ISU Navoi Chemical for the construction of a polyvinyl chloride production unit (PVC) worth $180 million.

It is planned to build an enterprise with a design capacity of 50,000 tons of PVC and 32,000 tons of caustic soda per year on the basis of Navoiazot.

The project will be financed by a loan from the Uzbek Reconstruction and Development Fund worth $120 million, foreign investments and loans $45 million and Uzhimprom's assets $15 million.