Baku, Azerbaijan, May 16
By Fakhri Vakilov-Trend:
The US company Air Products, Uzbekneftegaz and Uzkhimprom signed an agreement on the development of the project on construction of new gas chemical complex (GCC) based on MTO technology (production of polymers from natural gas), Trend reports with reference to Uzbek media.
The document signed on May 16, 2019, provides the basis for the implementation of this initiative and defines the roles and responsibilities of the parties in creation of the petrochemical cluster.
Earlier, the Uzbek side announced plans to build a new gas chemical complex processing 1.3-1.5 billion m3 of gas based on MTO technology (methanol to olefins) and producing 200,000-250,000 tons of polypropylene, 100,000 tons of ethylene-propylene rubber, 100,000 tons of polyethylene terephthalate and ethylene vinyl acetate, and 100,000-150,000 tons of ethylene glycol and polyethylene.
The total cost of the project is estimated at about $3.5 billion. Uzbekistan is ready to invest 30 percent of its own funds in the project, and 70 percent are to be covered by foreign investments, loans and borrowings.
Also on May 16, Uzbekneftegaz and Air Products signed an agreement on the establishment of a joint venture for industrial gases manufacturing. Its main goal is the development, construction, operation and maintenance of facilities for the production, marketing and distribution of industrial gas products in Uzbekistan.
Founded in 1940, Air Products is a world-leading Industrial Gases company. With approximately 16,000 employees and operations in 50 countries, the Company provides industrial gases and related equipment to dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage.
Air Products is also the world’s leading supplier of liquefied natural gas process technology and equipment.
---
Follow author on Twitter:@vakilovfaxri
