Japan to finance chemical complex construction in Uzbekistan
Tashkent, Uzbekistan, Oct. 26
By Demir Azizov- Trend:
The Japan Bank for International Cooperation (JBIC) has allocated a loan worth $577 million for the construction of a chemical complex in Uzbekistan for the production of ammonia and carbamide (urea) on the basis of Navoiazot.
The agreement on financing the project was signed October 25 as part of the official visit of Prime Minister of Japan Shinzo Abe to Uzbekistan.
The loan agreement was signed by Chairman of the Board of the Asaka Uzbek State Joint-Stock Commercial Bank (SJSCB) and head of the JBIC Hiroshi Watanabe.
The credit has been allocated for the construction of the technological part of the complex, which will be carried out by Japanese companies.
Japanese Mitsubishi Heavy Industries, Ltd. won the tender for the construction of a chemical complex for the production of ammonia and carbamide (urea) on the basis of Navoiazot JSC (the largest chemical plant in Uzbekistan) in early 2015.
Navoiazot signed a contract with the Japanese consortium on "turnkey" conditions, envisaging design, equipment procurement, construction, and commissioning of the chemical complex in operation in July 2015.
The design capacity of the complex is 660,000 metric tons of ammonia and 577,500 metric tons of urea per year.
It is planned to build a chemical complex worth $961.74 million till the end of 2017 on the basis of Navoiazot JSC.
Funding for the project is to be implemented at the expense of the credit of the Fund for Reconstruction and Development of Uzbekistan in the amount of $320 million, own funds of Navoiazot and loans from local and foreign banks.
The project implementation will make it possible to fry the obsolete and worn ammonia production of first and second queues on Navoiazot, commissioned in 1965-1967, respectively.
Navoiazot (the former Navoi Chemical Plant) was commissioned in 1964. The plant deals with the production of nitrogen fertilizers, nitronic fiber as well as integrated production of organic synthesis. The enterprise is wholly owned by the state.
Edited by CN