Ashgabat, Turkmenistan, July 4
By Huseyn Hasanov– Trend:
A consortium of Hyundai, LG (South Korea) and Toyo (Japan) companies successfully continues the work on construction of a gas chemical plant in the Balkan region of Turkmenistan, the Neutral Turkmenistan newspaper reported.
“Implementation of this unique project will make it possible to provide not only domestic needs of the country with high-quality products, but also expand its export opportunities,” the article says.
The matter rests in complex processing of hydrocarbon gases into chemical products – 81,000 tons of polypropylene and 386,000 tons of polyethylene per year, which are widely used in production of polyethylene pipes, packaging products, textile fibers, electrical appliances, synthetic carpets.
Some 49,000 tons of pyrolysis gasoline will be produced per year as a byproduct at the new enterprise.
The newspaper also noted that the new enterprise will be a unique complex for processing of feed gas into polymers, including such intermediate steps as purification of the feed gas, its division into fractions, thermal cracking of paraffin wax, as well as ethylene and propylene polymerization.
Installation of process and ancillary equipment of the plant should be completed at the enterprise by late 2016, according to the plan. Currently, its construction involves more than 16 foreign and domestic subcontractors, as well as over 1,000 units of construction equipment.
It is scheduled to commission the complex in September 2018. The project is estimated to be worth more than $3.4 billion.
Financial support is provided by the Japan Bank for International Cooperation, the Export-Import Bank of South Korea and the syndicate of participating financial institutions of Japan, Germany, France, Korea, China, Italy, Austria and Switzerland.