Uzbekistan to build $10bn chemicals production complex by 2028 in Khorezm

By bne IntelliNews March 1, 2024

Uzbekistan has announced plans to build a $10bn chemicals production complex by 2028.

The 2.5mn tonne/year set of installations would be built in northwestern Khorezm region, President Shavkat Mirziyoyev's office said on March 1.

Mirziyoyev discussed the project with government officials and a large foreign investor during a visit to the region, the office added. It did not name the potential foreign investor in the project, though bnn reported on March 1 that the local investor would be Uzkhimprom.

When fully built, the facility is expected to need a workforce of around 3,000.

The feedstock for the chemical production lines will be natural gas.

Uzbekistan’s gas production has been falling in recent years—it totalled 46.7bn cubic metres (bcm) last year, marking a decline of 9.6% y/y—but Tashkent has plans to boost imports of Russian gas.

Last week, the Russian Ministry of Industry and Trade said Uzbekistan and Russia are working on a plan to construct a gas chemical complex in the southwestern Uzbek region of Bukhara.

It might be argued that Uzbekistan’s neighbour Kazakhstan is far better placed to expand its chemical and petrochemical industries given its abundant domestic gas resources from which producers can source comparatively cheap gas feedstock.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Uzbekistan's gold bar and coin prices move past million som per gram mark

Gold bar and coin prices in Uzbekistan moved past the Uzbekistani som (UZS) 1mn ($79) per gram mark on May 16, the Central Bank of Uzbekistan (CBU) announced . The day on ... more

Passenger traffic at Uzbekistan's airports expands 42% in 1Q24

Passenger traffic at Uzbekistan's airports surged 42% y/y to 3.13mn passengers in 1Q24, ato comm has ... more

China’s Universal Energy to build two 250-MW wind power plants in Uzbekistan

Uzbekistan has approved the construction of two 250-MW wind power plants at a cost of $250mn in the Samarkand and Jizzakh regions by China’s Universal Energy, according to ... more

Follow Us On

Most Read

  1. Ukraine’s strategy of hitting Russian oil refineries is working
    7 days ago
  2. Trees are “coughing not breathing” due to climate crisis stress, study finds
    7 days ago
  3. Azerbaijan, Kazakhstan and Uzbekistan join forces to power Europe
    8 days ago
  4. China and Hungary sign 18 agreements during last leg of Xi's European tour
    7 days ago
  5. EU turning a blind eye to Russian LNG flowing through its terminals
    7 days ago
  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    29 days ago
  2. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    1 month ago
  3. Shocking trial of ex-minister has shifted domestic violence attitudes in Kazakhstan, says brother
    15 days ago
  4. The models are wrong, climate change is accelerating faster than predicted
    22 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    1 month ago

Reports

Dismiss