UZBEKISTAN
Follow-up: Indorama enters into MOU with Uzbekneftegaz / Plans to establish PE joint venture / Project feasibility study currently under review
Commenting on numerous regional newspaper reports about plans for a USD 1.2 bn upgrade to the PE gas-chemical complex in Mubarek / Uzbekistan – see Plasteurope.com of 11.02.2011 – Indorama Corporation (Singapore; www.indorama.com) has clarified to Plasteurope.com that it has entered into a memorandum of understanding with the country’s national gas company Uzbekneftegaz (Tashkent; www.ung.uz) to establish a 50:50 joint venture for 500,000 t/y of gas-based TPA polyethylene capacity.
Indorama did not comment on the financial details of the proposed deal, although it did say it had completed a feasibility study that is currently being reviewed by Uzbekneftegaz and the Uzbek government.
Indorama did not comment on the financial details of the proposed deal, although it did say it had completed a feasibility study that is currently being reviewed by Uzbekneftegaz and the Uzbek government.
16.02.2011 Plasteurope.com [218608-0]
Published on 16.02.2011