Uzbekneftegaz and GS E&C to implement joint project
29/05/2015 00:00
Uzbekneftegaz and GS E&C to implement joint project
29/05/2015 00:00
Tashkent, Uzbekistan (UzDaily.com) -- National holding company Uzbekneftegaz and South Korea’s GS Engineering & Construction Co. signed a memorandum on realization of the project in petrochemical sphere in Uzbekistan with estimated cost of US$4.5 billion.
Under the memorandum of understanding (MOU) with Uzbekneftegaz, the South Korean builder will help set up a production unit to make olefin, used in making plastic materials.
GS E&C will form a consortium with other South Korean investors to cover 50% of the project cost, while the remaining share will be held by the Uzbek gas company.
The two firms are currently negotiating the final cost and production capacity of the olefin facility, GS E&C said.
The MOU was signed within the state visit of the President of Uzbekistan Islam Karimov to South Korea.
Subscribe to our Telegram channel!
25/04/2024Read more
$ 1 | 12697.00 | 0.000% |
1 | 13547.70 | 0.000% |
₽ 1 | 135.05 | 0.000% |