CNPC can join UzIndoramaGasChemical in autumn
24/06/2014 16:52
CNPC can join UzIndoramaGasChemical in autumn
24/06/2014 16:52
Tashkent, Uzbekistan (UzDaily.com) -- China National Petroleum Corporation (CNPC) can join a project on construction of gas chemical complex in Kashkadarya region in autumn 2014, RIA Novosti reported quoting source, who familiar with the situation.
CNPC presented its partners is preliminary feasibility project on construction of gas chemical complex, the source said. He said that the participants will make final decision on the project in September-October 2014.
In May 2012, Uzbekneftegaz and Indorama Group (Singapore) created a joint venture, UzIndoramaGasChemical, on parity at construction of the gas chemical complex on the base of Mubarek Gas Processing Plant.
The capacity of the plant will make up 492,000 tonnes of polyethylene, 66,000 tonnes of gas condensate and 53,000 tonnes of pyrolized petroleum a year. The project cost is US$2.5 billion and it will be financed due to attracted resources of the founders of the joint venture.
In September 2013, CNPC signed a memorandum of understanding on participation in the project with the founders of the joint venture. It is expected that after Chinese firm joins UzIndoramaGasChemical, the partners will own 33.3% stake in the venture.
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