Economy • 19 December, 2018

Uzbekistan attracts over $2.3B for its new GTL plant

6776 timeviewed

Uzbekistan attracted $2.3-billion financing for the construction of a plant in the Kashkadarya region for the production of synthetic fuel using gas-to-liquids (GTL) technology, Trend reports on Dec. 17 referring to Uzbek media.

The relevant financial documents were signed on Dec. 15 in Tashkent by the project company Uzbekistan GTL, Uzbekneftegaz JSC and 11 international financial institutions, organizations and commercial banks from China, South Korea, Japan, Russia and Europe.

The event was attended by representatives of the China Development Bank (CDB), the Export-Import Bank of Korea (KEXIM), the Korea Trade Insurance Corporation K-Sure, Gazprombank, the Russian Agency for Export Credit and Investment Insurance (EXIAR), Credit Suisse Bank, and Japanese banks MUFG, SMBC and Mizuho.

The total cost of the project is estimated at $3.6 billion, of which, according to documents, China will allocate over $1 billion, South Korea - $600 million, the remaining nine lenders - about $700 million in total, the Fund for Reconstruction and Development of Uzbekistan - $740 million, own funds of Uzbekneftegaz - $570 million.

The plant is expected to be commissioned in 2020 and will provide annual import substitution of petroleum products in the amount of up to 1.5 million tons worth over $1 billion.

The plant will process 3.6 billion cubic meters of gas and produce 1.5 million tons of synthetic liquid fuel of the Euro-5 standard, including 311,000 tons of jet fuel, 743,000 tons of diesel fuel, 431,000 tons of naphtha and 53,000 tons of liquefied gas.

General contractors of the plant are Hyundai Engineering (South Korea), Hyundai Engineering and Construction and Enter Engineering (Singapore). The plant is being built according to the technology of licensors Sasol (South Africa), Haldor Topsoe (Denmark) and Chevron (USA).

The overall process of implementing the EPC contract is currently up to 65 percent. Construction work has been completed by 23 percent.

Last news

Kazakhstan coronavirus cases reach 135

Coronavirus • 27 March, 2020

Uzbekistan records first coronavirus death

Coronavirus • 27 March, 2020

Kazakhstan Covid-19 cases pass 100

Coronavirus • 26 March, 2020

Dimash praises medical workers

Coronavirus • 26 March, 2020

Kazakh, Chinese President speak over phone

President • 26 March, 2020

Kazakhstan coronavirus cases reach 88

Kazakhstan • 26 March, 2020

Kazakh, Russian Presidents speak over phone

President • 20 March, 2020

2 magnitude earthquake hits Almaty

Kazakhstan • 20 March, 2020

Kazakhstan coronavirus cases reach 49

Coronavirus • 20 March, 2020

7 new cases reported in Kazakhstan, overall 44

Coronavirus • 19 March, 2020

Number of confirmed global cases passes 200,000

Coronavirus • 18 March, 2020

Kazakhstan reports 1 new case, making total 36

Coronavirus • 18 March, 2020

Kazakh, Uzbek Presidents speak over phone

President • 18 March, 2020

Kazakh President supports medical workers

President • 18 March, 2020

70% of employees to work from home

Society • 18 March, 2020

Kyrgyzstan registered first case of coronavirus

Coronavirus • 18 March, 2020

Kazakhstan coronavirus cases reach 35

Coronavirus • 18 March, 2020

Similar news