Tashkent, Uzbekistan, May 22
By Demir Azizov - Trend:
Ustyurt Gas Chemical Complex has been commissioned in Uzbekistan, the Uzbekistan National News Agency (UzA) reported.
It is the largest gas chemical complex in Central Asia.
The ceremony was attended by Uzbek and South Korean prime ministers Shavkat Mirziyoyev and Hwang Kyo-ahn.
Hwang Kyo-ahn said that the construction of Ustyurt Gas Chemical Complex is an example of successful cooperation between the two countries.
"It is a new model of cooperation which envisages transition from the export of raw materials to the joint production and export of products with high value-added taxes to foreign markets," he added.
As previously reported, in February 2008, Uzbekneftegaz and a consortium of South Korean companies Kor-Uz Gas Chemical Investment established Uz-Kor GasChemical JV on a parity basis for the Ustyurt GCC project.
General contractors of the project are the Korean Samsung Engineering, GS Engineering and Hyundai Engineering. The construction began in 2011.
The complex will annually process 4.5 billion cubic meters of natural gas and produce up to 4 billion cubic meters of marketable gas, 387,000 tons of polyethylene, 83,000 tons polypropylene and 102,000 tons of pyrolysis gasoline.