BAKU, Azerbaijan, Jan. 26
By Klavdiya Romakayeva - Trend:
Uzbekneftegaz JSC is implementing the project on expansion of production capacities of the Shurtan gas chemical complex in the Guzar district of the Kashkadarya region, Trend reports referring to the press service of Uzbekneftegaz JSC.
According to Uzbekneftegaz, the estimated cost of the project amounts to $1.7 billion. As a result of processing 430,000 tons of naphtha produced at the GTL plant under the project. It is planned to receive up to 280,000 tons of polyethylene with high liquidity per year, and polypropylene production - up to 100,000 tons.
In addition, Russian Gazprombank JSC allocated a loan in the amount of $300 million in order to finance the project.
Also, work is underway with the State Development Bank of China and other financial institutions to attract credit funds based on the principle of project financing.
To date, Front-End Engineering Design (FEED) and marketing research with foreign large companies with high qualifications have been developed within the framework of the project. Also, the relevant agreements were signed with major production licensors.
Furthermore, an agreement was signed with the Singaporean Inter Engineering on detailed planning, equipment procurement, and construction.
It is reported that to date, a total of 375 highly qualified specialists are involved in the EPC-contractor's project.
According to the information, detailed design work is 43 percent complete, and the pre-selection process for major equipment suppliers is ongoing. In total, 73 units of the main technological equipment were ordered out of 383.
Uzbekneftegaz noted that as a result of the implementation of this project, the production of polyethylene and polypropylene is increasing in Uzbekistan, which creates the basis for the production of high-quality and export-oriented goods in our country.
---
Follow the author on Twitter: @romakayeva