Uzbekistan, Tashkent, Oct. 2 / Trend D. Azizov /
Uzbekistan plans to draw on Chinese Eximbank's loan worth $300 million by late 2013 for the construction of a chemical complex for polyvinyl chloride production for the Uzbek Navoiazot company, a spokesperson for the Uzhimprom State Joint Stock Company told Trend today.
According to the interlocutor, a tentative agreement on a loan was reached during Chinese President Xi Jinping's visit to Uzbekistan in September 2013.
It was reported that Navoiazot announced an international tender in May 2013 to choose a general contractor for turnkey construction of a complex which will produce 100,000 tons of PVC, 64,000 tons of caustic soda and 300,000 tons of methanol per year with a starting price of $440 million.
According to Uzhimprom, China National Chemical Engineering Corporation (CNCEC) won the tender. The contract is expected to be signed with the Chinese company by late October.
Besides the Chinese Eximbank's loan, the project worth $470.8 million will be financed with the Uzbek side's own funds.