Uzbek officials visit Uzbek-Iranian joint venture for $274mn petrochemical project in Bukhara district

Uzbek officials visit Uzbek-Iranian joint venture for $274mn petrochemical project in Bukhara district

Uzbek officials visit Petrochem Sepehr joint venture in Bukhara / Chamber of Commerce and Industry of Uzbekistan

By Mokhi Sultanova in Tashkent July 9, 2024

Officials from the Chamber of Commerce and Industry of Uzbekistan (CCI) and the Bukhara regional administration recently visited the Petrochem Sepehr joint venture.

The venture, established in collaboration with Iranian partners, is set to pioneer a major petrochemical initiative in the Bukhara district.

During the visit, the Acting Deputy Head of the CCI, Umid Pazilkhanov, and regional administration head Shokhrukhali Sadillaev inspected the $274mn project, which focuses on the production of various oil-based products.

Scheduled for launch in stages beginning September 2024, the initiative aims to implement over 10 projects and introduce the production of 13 different types of chemical products.

These include pentane, hexane, benzene, toluene, dimethyl carbonate, ammonium bicarbonate, caustic soda, and potassium sulfate.

The project's economic impact is expected to be significant, with projections indicating an annual production value of $240mn in chemical and petrochemical products.

Of this output, $82mn is slated for export, while $123mn will replace imported goods, supporting Uzbekistan's goals of self-sufficiency in key industrial sectors.

Moreover, the initiative is forecasted to contribute UZS214bn ($17mn) annually to the national budget and generate 600 new jobs, underscoring its role in local economic development.

#Uzbekistan #infrastructure

Read in IntelliNews Pro

Get IntelliNews Pro

Related Articles

Russia’s expulsions of migrants reportedly nearly double in 2024 to around 80,000

Russia in 2024 expelled more than 80,000 migrants for immigration rule violations, compared to 44,200 in 2023 and 26,600 in 2022, TASS reported on January 8. The Russian state news agency cited a ... more

Kazakhstan’s transit of Russian oil to Uzbekistan and China amounts to 10.2mn tonnes in 2024

Russia’s transit of oil through Kazakhstan’s pipeline system, operated by main pipeline operator KazTransOil, to China and Uzbekistan totalled 10.21mn tonnes in 2024, ... more

World Bank must wake up to Rogun mega dam “nightmare” in Tajikistan, say activists ahead of financing vote

The World Bank has to realise that the Rogun mega project “dream of the biggest dam [in the world] will turn into a nightmare for the people and nature in Tajikistan and beyond” and that it ... more

Dismiss

Chat with usLiveChat