The Uzbekistan GTL plant will be commissioned in 2021, and will annually produce import-substituting products of oil products and hydrocarbons worth over US$ 1 billion or 12.8 trillion soums, the Energy Ministry said.
To date, the total project cost stands at US$ 3.42 billion US dollars, with an internal rate of return on the project (IRR) of 10.2%, with a payback period of 9 years.
The initial cost was US $ 3.73 billion, but due to alterations in design solutions, as well as a decrease in financial costs, the project cost was cut by more than US $ 310 million.
With the commissioning of the GTL complex, the state budget will annually receive an average of more than 2 trillion soums of tax payments.
In addition, given the ever-growing energy market, the use of GTL fuel is one of the most efficient, economical and safest ways to reduce air emissions.
In terms of its scale, the plant is one of the largest investment projects not only in Uzbekistan, but also in the CIS countries. The project is aimed at expanding Uzbekistan’s capacity for deep processing of natural gas, drastically reducing imports of hydrocarbon raw materials, as well as strengthening the energy independence of the republic.
The project provided jobs for more than 13 thousand people. After being commissioned, about a thousand people will be employed at the plant.