Uzbekistan, Tashkent, August 11 / Trend D. Azizov /
Uzbekistan will begin construction of the chemical complex for the production of polyvinyl chloride (PVC) on the basis of JSC "Navoiazot" worth $180 million in the first half of 2011, a source in governmental circles said.
Currently, pre-feasibility study is being coordinated within the government of the republic.
It is expected that feasibility can be confirmed in late September. The governmental decision on the draft will be taken at the end of this year.
It was reported that in mid-2009 "Navoiazot" and Korean ISU Engineering established a joint venture ISU Navoi Chemical to implement the project for the production of PVC and caustic soda worth $180 million.
It is planned to build a plant with design capacity of 50,000 tons of PVC and 32,000 tons of caustic soda annually on the basis of "Navoiazot".
The project will be financed through a loan from the Uzbek Fund for Reconstruction and Development to the amount of $120 million, foreign investments and loans - $ 45 million and funds from Uzhimprom - $ 15 million.
According to the original schedule, the construction of the complex is scheduled for 2010.
Navoiazot created Joint Venture Navoi-plast with the Russian JSC Caustic (Volgograd) to implement a similar project with the initial value of $165.5 million. They planned to implement it before the end of 2007. The Russian company refused from participating in the project on technical and financial conditions.
Navoiazot (former Navoi Chemical Plant) specializes in the production of nitrogen fertilizers, nitronic fibers, as well as integrated production of organic synthesis.