15 October, 2018

Uzbekistan offers Russian TAIF Group to invest in gas chemical plant in Karakalpakstan

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Uzbekistan has invited the Tatarstan’s (a subject of Russian Federation) TAIF Group of Companies to take part in the construction of one of the plants of the Ustyurt gas-chemical complex in Karakalpakstan, "Podrobno.uz" reported.

The plant will produce polypropylene, various synthetic materials, rubbers and other products.

To kickstart the project, a delegation of entrepreneurs and politicians from Uzbekistan has met with the leadership of TAIF Group in Kazan. The delegation was led by the Deputy Chairman of the Senate of the Parliament of the Republic of Uzbekistan Musa Yerniyazov.

"We have estimated the preliminary capacity of the new plant: it is profitable to build an enterprise that processes more than 2 billion cubic meters of gas per year. We are ready to cooperate in the construction of a gas chemical plant," Yerniyazov said.

Ruslan Shigabutdinov, the Deputy General Director of Corporate Governance, Property & Investments of TAIF OJSC, announced his readiness to consider this proposal.

Currently, the entire external infrastructure of the investment project, the cost of which exceeds $50 million, is being built at the expense of the state. The government of Uzbekistan undertakes to lay power lines, to build roads, and implement housing construction. In one of the industrial zones, comfortable conditions will be created for the enterprises engaged in gas chemistry.

The Uzbek side invited TAIF representatives to visit Karakalpakstan in the near future in order to jointly discuss the details of the work on the project.

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