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CDB provides $85 million loan for Mubarek Gas Chemical Complex Project
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) |
| Country | Uzbekistan |
| Start Date | Jan 01, 2014 |
| End Date | Oct 23, 2031 |
| Duration | 6,504 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 53862 |
Grant Description
CDB provides $85 million loan for Mubarek Gas Chemical Complex Project In 2009, China Development Bank and the National Bank for Foreign Economic Affairs of the Republic of Uzbekistan signed an $85 million loan agreement for the construction of a propane-butane mixing unit at the Mubarek Gas Processing Plant.
Uzpromstoybank JSC provided a guarantee for the loan.
The purpose of the project was to construct a gas chemical complex that is is located in the city of Muborek within the Kashkadarya (also spelled as Qashqadaryo) region of Uzbekistan.
The plant was eventually expected to produce 492,000 tons of polyethylene, 66,000 tons of condensate gas and tonnes of pyrolized petroleum a year. Zeromax GmbH (Switzerland) was the contractor responsible for project implementation. Its work was supervised by Uzbekneftegaz. This project was completed on May 14, 2013.
Staff Comments
- The Chinese project title is 穆巴列克天然气加工厂合. The Russian project title is «Строительство установки пропан-бутановой смеси для увеличения производства сжиженного газа на УДП «Мубарекский ГПЗ».
- As this project neared completion, a joint venture (special purpose vehicle) called UzIndoramaGasChemical was established by Uzbekneftegas NHC and Singapore's Indorama Group for continued investment in Mubarek Gas Processing Plant Project. In May 2012, Uzbekneftegaz and Indorama Group (Singapore) established the joint venture. Then, China National Petroleum Corporation (CNPC) signed an MOU with this joint venture in September 2013 in order to participate in the gas chemical project, but its involvement in the project did not become official in 2014.
- This project is also known as the Mubarek Gas Chemical Complex Project.
- It is not clear if the National Bank for Foreign Economic Affairs of the Republic of Uzbekistan used the proceeds of the CDB loan to on-lend to UzIndoramaGasChemical. This issue warrants further investigation.
Sources & References
- 中石油集团可能参与乌兹别克斯坦25亿美元天然气化工项目
- 上合组织，多边合作的典范
- 中石油将在乌兹别克斯坦建立天然气化工合资企业
- CNPC to join joint venture on gas complex construction in Uzbekistan worth $2.5 billion
- CNPC can join UzIndoramaGasChemical in autumn
- UzIndoramaGasChemical to start construction of gas chemical complex in 2014
- CNPC to become founder of UzIndoramaGasChemical
- Co-financing Projects in Uzbekistan
- COOPERATION FOR THE CONSOLIDATION OF PEACE
- UzIndoramaGasChemical postpones construction of a chemical plant for $ 2.5 billion, О ДОПОЛНИТЕЛЬНЫХ МЕРАХ ПО РЕАЛИЗАЦИИ ИНВЕСТИЦИОННОГО ПРОЕКТА ПО УВЕЛИЧЕНИЮ ПРОИЗВОДСТВА СЖИЖЕННОГО ГАЗА НА УДП «МУБАРЕКСКИЙ ГПЗ»
- ABOUT ADDITIONAL IMPLEMENTATION MEASURES INVESTMENT PROJECT TO INCREASE PRODUCTION LIQUEFIED GAS ON UDP 'MUBAREX GPP'
- BU_PITCH_ENGLISH_2018.xlsx
- 国家开发银行 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU)
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