The Uzbekistan Energy Ministry and a group of investors including Uzbekneftegaz, Uzkimyosanoat, Air Products & Chemicals Inc. and Enter Engineering announced on 16th of May that they have signed a Project Development Agreement (PDA) to build a new petrochemical plant based on MTO (methanol-to-olefins) technology.
The project aims to use domestic gas supply to produce high value added chemical products to diversify the economy and enhance the substitution of imports.
Under the preliminary agreements, the group of investors are planning to build a new 500,000 tons state-of-the-art plant, which is expected to process 1.5cbn of natural gas per annum. Potential technical and consulting partners of this project include: Honeywell UOP, Amec Foster Wheeler, Haldor Topsoe and IHS Markit.
The facility will produce high-performance polymers that are used in various economic sectors and other high-value products such as: synthetic rubber, high-quality plastics, etc.
The location of the facility will be promptly announced and will ensure access to competitive feedstock and energy with appropriate infrastructure to better serve domestic customers and markets across Europe and Asia.
The Minister of Energy of Uzbekistan, Mr. Alisher Sultanov, said “The decision to build this plant is another step to drive Uzbekistan’s petrochemicals growth strategy and continue on the path of increasing exports of value-added products as well as raw materials. This project will help to build Uzbekistan’s competitiveness as a player on the international stage.” The Group of investors jointly commented “We are delighted to take the first step in supporting a new petrochemical plant in Uzbekistan. As a group of investors, we are keen to support projects that offer a positive return on investment whilst also being strategically attractive for the country of Uzbekistan.”
The Group of investors jointly commented “We are delighted to take the first step in supporting a new petrochemical plant in Uzbekistan. As a group of investors, we are keen to support projects that offer a positive return on investment whilst also being strategically attractive for the country of Uzbekistan.”
