GS Engineering

Modern gas petrochemical complex to be constructed in Turkmenistan

There will be held a great ceremony of the start of modern gas petrochemical complex construction today in Turkmenistan. Its capacity will make up 386 thousand tons of polyethylene and 81 thousand tons of polypropylene a year, ITAR-TASS reports.
The complex of over $3.432 billion in value will be built by Japan TOYO Engineering, South Korean Consortium LG International Corporation and Hyundai Engineering Corp. Ltd. 

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Uzbekistan and Kogas signed a direct agreement on a construction of gas chemical facility

The Government of Uzbekistan and South Korean Korea Gas Corporation (Kogas) signed a direct agreement on a construction of the Ustyrtsky gas chemical combine on the north-west of Uzbekistan at $3.9 billion, the source in the fuel-and-energy company of the Cabinet of Ministers of the republic said.
“The direct agreement contains a supplementary protection of the interest of the creditors and investors of the project,” the source stated. In particular, the structure and hedging rate have been agreed, the terms of replacement of the participants and compensation on an exit has been regulated.

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Korean companies start the construction of gas chemical facility at the cost of $4.16 billion in Uzbekistan

Korean Samsung Engineering, GS Engineering and Hyundai Engineering have started the active stage of the technological part construction of the Ustyurt gas chemical facility in the North-West of Uzbekistan, a representative of the Cabinet’s Fuel & Energy Sector reported to  RIA Novosti on Thursday.

“The construction of the technological part has been started, the equipment mounting is in  process; the Uzbek party builds the infrastructure, the operations are carried out in accordance with the approved schedule,” – the Government’s representative specified.

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Korean companies have started the construction of a gas chemicals complex in Uzbekistan

Samsung Engineering, GS Engineering and Hyundai Engineering (Korea) have started the active stage of the construction of the technological part of the Ustyurt gas chemicals complex in the North-West of Uzbekistan.
The construction of the technological part has started, the assembly of the equipment is held, the Uzbek party is constructing the infrastructure, the works are held in conformity with the approved schedule. Read more »

Eximbank of South Korea invests $1 bln into gas project of Korean companies in Uzbekistan

The Export-Import Bank of Korea on March 26th announced about the investment of $1 bln into the gas project of the Korean companies in Uzbekistan, Dow Jones agency reports.
8 Korean companies, including Korea Gas (036460.SE) and Honam Petrochemical (011170.SE) at the present time participate in the gas project of Uzbekistan (development of the Surgilsky deposit and the project of the construction of the plant) which will also be financed by Eximbank, the announcement of the State Bank of South Korea says, Regnum reports. Read more »

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