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Turkmenistan signs loan agreements with Japanese and Korean banks for construction of gas chemical complex.

A gas chemical complex for production of 386,000 tons of polyethylene and 81,000 tons of polypropylene a year will be constructed in Balkan province of Turkmenistan, according to The Golden Age of Turkmenistan.

The State Bank for Foreign Economic Affairs of Turkmenistan signed loan agreements with the Japan Bank for International Cooperation and the Export-Import Bank of Korea for 10 years.

In September 2013, a trilateral agreement on construction of the gas chemical complex was reached by State Concern Turkmengaz, LG International Corp, Hyundai Engineering and TOYO Engineering Corporation.

The project supposes processing of 5 billion cubic meters of natural gas annually to obtain the required raw materials for the production of polyethylene and polypropylene. The remaining amount of natural gas will be sent to the gas supply systems.

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Publication:AKIpress News Agency
Geographic Code:9TURM
Date:May 27, 2014
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