Uzbekistan and South Korea’s GS Engineering & Construction inked a memorandum of understanding on a project for construction of a gas chemical complex worth $4.5 billion, a representative of Uzbekistan’s government circles told Trend.
The memorandum was signed during the state visit of Uzbekistan’s President Islam Karimov to South Korea on May 27-29.
The source said the project envisages the creation of capacities for the production of olefins from methanol.
The gas chemical complex is planned to be built by the GS Engineering & Construction and Uzbekistan’s National Holding Company Uzbekneftegaz.
The GS Engineering & Construction is one of the general contractors for the construction of the Ustyurt Gas Chemical Complex at Uzbekistan’s Surgil field.