05/07/2014

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TURKMENISTAN: Construction begins on gas-based PE and PP complex

The complex is being built as the result of an agreement between state-owned Turkmengaz, LG International Corp., Hyundai Engineering and Toyo Engineering.

Under the agreement, the complex will produce 386,000 t/y of high-density PE and 81,000 t/y of PP.

Korea's EximBank recently agreed to provide a USD 707-million loan for the project, which is expected to cost nearly USD 3.5-billion.

A completion date for the complex was not available, but Turkmenistan President Gurbanguly Berdymukhamedov has cited the project as being a "strategic sector of the national economy.”

Source: Weekly "PetroChemical News", Durham, NC, USA; 5 May 2014
(Syed Rashid Ali, Karachi, Pakistan)

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