October 17, 2018 / 7:25 AM / a year ago

Turkmenistan opens $3.4 bln chemicals plant

KIYANLY, Turkmenistan, Oct 17 (Reuters) - Turkmenistan opened a $3.4 billion chemicals plant on Wednesday built by Japan’s TOYO Engineering and South Korea’s LG International and Hyundai Engineering, in a bid to diversify an economy dependent on gas exports.

Using natural gas - of which Turkmenistan has the world’s fourth-biggest reserves - as feedstock, the plant will produce up to 386,000 tonnes of polyethylene and 81,000 tonnes of polypropylene a year.

The Central Asian nation, whose economy has been hit hard by a slump in gas export revenue, borrowed from Japan’s JBIC and Korea’s K-exim to finance construction of the plant on its Caspian coast from where it can be shipped abroad. (Reporting by Marat Gurt; writing by Olzhas Auyezov; editing by Louise Heavens)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below