Tashkent, Uzbekistan, Nov.20
By Demir Azizov- Trend:
Uzbek-Bulgarian Uz-Prista Recycling JV postponed commissioning of the plant for the regeneration of used motor oil worth $15 million for 2015, a source close to the project told Trend.
The source said that it was originally planned to commission the plant with a design capacity of processing of used motor oil in a volume of 43,000 metric tons and production of base oils in the amount of 30,000 tons per year in April 2013, but later the launch of the enterprise was postponed to mid-2014.
He said that the main reason for the schedule change is lack of delivery of the process equipment.
It was earlier reported that Bulgarian Prista Oil Holding EAD and Uzoilproduct (a subsidiary of the Uzbekneftegaz National Holding Company (NHC) established two joint ventures for collecting and recycling the used lubricants in 2012.
Uz-Ecoprotect joint venture was created with the authorized capital of $1 million to be engaged in the collection, storage and transportation of used industrial oils. The share of Uzoilproduct in the authorized capital of the joint venture is 49 percent, Prista Recycling (a subsidiary of Prista Oil Holding EAD) - 51 percent.
The second joint venture - Uz-Prista Recycling will focus on recycling of used oils and producing base oils. Its authorized capital is $15 million with the same equity of the parties.
The joint enterprises were established in Angren specialized industrial zone in Tashkent region.
Uz-Texaco joint venture launched the production of synthetic motor oils upon a license of Prista Oil on the basis of Fergana Oil Refinery in October 2011.
Currently, the joint venture produces up to 30 brands of mineral motor, hydraulic, transmission and other oil.
Consumers of its products are subdivisions Uzbekneftegaz NCC, Uzbekistan Airways NAC, Uzdiptransservis NMSC, SamAvto JSC, Uzbekugol OJSC, UzCase Company.
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