Turkmenistan to build industrial complex for polyethylene and polypropylene production
By Aynur Jafarova
Preparations to start the construction of an industrial complex for polyethylene and polypropylene production in Turkmenistan's Kyyanly seaside settlement are underway.
The news was announced by the Turkmen government on March 25.
"This project is planned to be implemented with the participation of a Japanese consortium and a South Korean company," the Turkmen government said.
The issue was discussed at a government meeting during which Turkmen President Gurbanguly Berdymukhamedov pointed out that the construction of this facility has been determined by the existence of huge natural gas resources and plans for the diversification of the country's export potential.
"Approving the project for a new gas and chemical complex, the Head of State gave his instructions to hold strict control over the timely fulfillment of all tasks related to the country's fuel and energy complex which is the strategic sector of the national economy," the government said.
A number of industrial facilities worth $10 billion, including a gas chemical complex in Kyyanly, will be built with Japanese capital in Turkmenistan in the near future.
The Turkmen State Bank for Foreign Economic Affairs and the Japanese Bank for International Cooperation (JBIC) signed a cooperation agreement to implement the large-scale project in September 2013.
The project will be implemented as part of the oil and gas industry development project for the period of up to 2030.
Turkmenistan's chemical industry is one of the fastest growing sectors of its national economy, having enormous resource potential.
Turkmenistan is working on the development of a large project for the establishment of major gas, chemical, and petrochemical industries in the next ten years.
Work on the utilization of associated petroleum gas and the extraction of liquefied natural gas, synthetic fluids, and electricity are of great importance as well.