Project on construction of the gas chemical plant in Kiyanly village in the ten top projects in Eurasia
The project on construction of the gas chemical plant in Kiyanly village on the Caspian Coast received a special award from the Trade & Export Finance (TXF), the United Kingdom as one of the ten top projects funded by export credit agencies in Europe and Eurasia in 2014. This decision was adopted during a meeting of representatives of authoritative international financial and insurance organizations and journalists in Paris in early June.
The gas chemical complex, which is currently under construction in Kiyanly village, is designed to process five billion cubic meters of natural gas and produce 386,000 tons of polyethylene and 81,000 tons of polypropylene per year. The project is implemented jointly by the TOYO Engineering (Japan) and a consortium of LG International Corporation and Hyundai Engineering Corp. Ltd (Republic of Korea). The total cost of the project is more than US$ 3.432 billion.
Foreign investors co-finance the project. The State Bank for Foreign Economic Activity of Turkmenistan signed loan agreements amounted to more than US $ 2.5 billion with the Japan Bank for International Cooperation, the Export-Import Bank of the Republic of Korea and the syndicate of financial institutions of Japan, Germany, France, Korea, China, Austria, Switzerland and other countries for 10 years.
Polyethylene and polypropylene will be produced based on the most advanced technologies, a distinctive feature of which is deep cleaning of raw materials from all kinds of impurities. Granulated polypropylene is of high demand on the world markets. It is used for production of polymeric films, synthetic fibers, high-strength thermoplastic sheet and, accordingly, all kinds of plastic products - pipes, hard thread, car filters as well as cloth and furniture, packaging materials, etc. Another product that will be manufactured in Kiyanly - polyethylene has excellent export prospects. It can be used for production of various pipes and consumer goods.
The first in our country polypropylene complex was built at the Turkmenbashi complex of oil refineries jointly with our Japanese partners - a consortium of Japanese companies Jay Ji Si, Itochu, Nisho Iwai and Marubeni co-financed by the Eximbank. Nowadays, granular propylene that is produced from liquefied gas received after processing oil occupies one of the leading places in the list of products manufactured at the Turkmenbashi complex of oil refineries. It is widely used in many countries throughout the world, including Japan, Russia, Turkey, Iran, China and other countries.
Packaging industry is one of the leading sectors in terms of polymer consumption all around the world, in average its share makes up 30 percent. In this regard, a plant for В-О-Р-Р polypropylene film production with an annual capacity of more than 20,000 tons of goods is under construction at the Turkmenbashi complex of oil refineries at present. This project is implemented jointly with PT ISTANA KARANG LAUT Company (Republic of Indonesia).
Polypropylene film has unique properties including high thermal stability, strength and flexibility. It can be used as a packaging material in the food, textile, pharmaceutical, perfume, cosmetic, agricultural and other industries. Moreover, B-O-P-P film is also used for production of condensators, packaging adhesives and stationery tapes, labels, etc.
Moreover, construction of new units for primary processing of ELDAD-HT-7 oil with an annual capacity of three million tons of hydrocarbons is under completion within the framework of an ambitious programme on technical modernization of the flagship of the domestic petrochemical industry. The project is implemented jointly with the Alliance Engineering and Costruction BV (the Netherlands).
The project on construction of facilities for production of high-octane gasoline is implemented by Consortium of LG International Corp. and Hyundai Engineering Co., Ltd Companies (Korea).
As a result, the oil processing volumes at Turkmenbashy complex of oil refineries will increase up to 10.5 million tons per year and the depth of processing hydrocarbons will make up 95 percent that satisfy the highest world standards.
This April, Turkmenbashi complex of oil refineries concluded a contract with the consortium of companies LG International Corp. and Hyundai Engineering Co., Ltd. According to the contract, diesel fuel and gasoline purification unit, delayed coking and catalytic cracking units will be built at Turkmenbashi complex of oil refineries.
The project on construction of a gasoline production plant was launched in Ahal Velayat last year. The project is implemented by Kawasaki (Japan) and Rönesans Holding (Turkey). The enterprise equipped with the latest technologies from the Haldor Topsoe (Denmark) Danish will annually process 1.785 billion cubic meters of natural gas and produce 600,000 tons of A-92 gasoline. Its total cost is US$ 1.700 billion.
According to the contract signed with the Turkmenhimiya State Concern and consortium Mitsubishi Corporation (Japan) and Gap Inşaat (Turkey), the project on construction of carbamide production plant was launched in Garabogaz, Balkan Velayat. The plant capacity is 1.155 tons of carbamide per year that will be exported.
In general, all this vividly illustrates the strong interest in and readiness of the international community for investment and technological cooperation with Turkmenistan that demonstrates the confidence in our country as a reliable, stable and responsible partner with a good reputation, high international prestige and great prospects for growth.