Singapore’s Indorama signs Uzbek polyethylene deal
Singapore-based petrochemicals group Indorama plans to invest more than €437m in a joint venture project to construct a 400,000 tpa polyethylene production plant in Uzbekistan.
The €874m scheme, part of an Uzbekistan government plan to upgrade the country’s Mubarek gas processing complex by 2015, is being carried out jointly by Indorama and the national gas company Uzbekneftegaz. Uzbekneftegaz is contributing funding of almost €110m with the Central Asian state’s Fund for Reconstruction and Development loaning the remainder of the cost. Commissioned in 1971, the original Mubarek gas complex can process up to 30 billion cubic metres of gas. The PE and other complex products are due to be sold, not only in Uzbekistan but also abroad.