BAKU, Azerbaijan, June 15
By Klavdiya Romakayeva - Trend:
The estimated cost of modernizing the Shurtan gas chemical complex in Uzbekistan will cost $1.8 billion, Trend reports with reference to Uzbekneftegaz JSC.
It is reported that the project provides for the creation of a production facility of up to 430,000 tons of polyethylene and up to 280,000 tons of polypropylene per year.
Uzbekneftegaz noted that a loan from Russian Gazprombank in the amount of $300 million was attracted to finance the project.
"In addition, work is underway with the State Development Bank of China, the Sinoshur Export Credit Agency and European financial institutions in order to attract credit funds on the basis of project financing," the statement said.
Also, the US Chevron Pilliphs Chemical company (polyethylene production) and McDermott (polypropylene production and naphtha cracking unit) have been selected as licensors of the project. To implement the project, a contract was signed with Singapore-based ENTER Engineering for detailed design, purchase, and construction of equipment.
According to the information, in 2001, Uzbekneftegaz put into operation the Shurtan gas chemical complex on the basis of the Shurtan gas condensate field in the Kashkadarya region. The design capacity of the complex with processing is 3.9 billion cubic meters of natural gas amounts to 125,000 tons of polyethylene, 100,000 tons of liquefied gas and 100,000 tons of unstable condensate per year.
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