Wednesday, 22, May, 2019

American Air Products, Uzbekneftegaz and Uzkimyosanoat today signed a deal to draft the project for a new gas-chemical complex using the MTO technology (methanol-to-olefins).

The document, in fact, is the basic stage for this project and defines the roles and responsibilities of the parties for setting up of a new petrochemical cluster.

Earlier, the Uzbek government announced plans to build a gas chemical complex with a processing volume of 1.3-1.5 BCM gas based on MTO technology and producing 200-250 thousand tons of polypropylene, 100 thousand tons of ethylene-propylene rubber, 100 thousand tons of polyethylene terephthalate and ethylene vinyl acetate, 100-150 thousand tons of ethylene glycol and polyethylene.

Uzbekistan is reportedly ready to invest 30% of its own funds for the US$ 3.5 billion project, while 70% to be foreign investments and loans.

Also today, Uzbekneftegaz and Air Products signed aa joint venture agreement for industrial gases. Its main goal is the development, construction, operation and maintenance of facilities for the production, marketing and distribution of industrial gas products in Uzbekistan.

 

Latest in Economy