Azernews.Az

By Kamila Aliyeva

A new gas chemical complex (GCC), which will set the foundation of the region's largest technological cluster, will appear in Uzbekistan in the coming years, as the country aims to bring the industry to a new level.

“At present, Uzbekneftegaz jointly with foreign partners has started working out a project to create a technological cluster by building a modern gas chemical complex and developing related industries aimed at producing products with high added value on its basis,” said company’s first deputy chairman Ulugbek Sayyidov.

Within the technological cluster, construction of the GCC with the processing volume of 1.3-1.5 billion cubic meters of gas based on the technology of MTO (methanol to olefins) and the production of 200,000-250,000 tons of polypropylene, 100,000 tons of ethylene-propylene rubber, 100,000 tons of polyethylene terephthalate and ethylene vinyl acetate, 100,000-150,000 tons of ethylene glycol and polyethylene.

“Also, on the basis of public-private partnership, it is proposed to build more than 10 plants for processing polymers with production of up to 300,000 tons of finished products. The total cost of the project is approximately $ 4.25 billion, of which $ 3.5 billion falls for the construction of the GCC. Uzbekistan is ready to invest 30 percent of its own funds in the project, and 70 percent will be foreign investments, credits and loans,” Sayyidov said.

More than half of the investments attracted to the Uzbek economy fall on the oil and gas industry. The volume of capital investments in 2016 amounted to $ 2.99 billion, and by the end of 2017 this figure reached $ 3.63 billion, of which $ 2.65 billion was foreign direct investment and loans.

Uzbekistan’s natural gas production in January-April amounted to 19.5 billion tons thus showing an increase of 6.7 percent. At the same time, the Central Asian country reduced oil production, which totaled 249,700 tons, by 9.8 percent.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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