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Uzbekistan intends to invest in chemical industry $3,093bn before 2022

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The President of Uzbekistan has ordered to approve the programme for chemical industry development for 2017-2021. The programme stipulates for investment as of $3,093bn.

The programme framework features 43 projects for the construction of new facilities and modernisation and reconstruction of the existing capacities. The investment programme is expected to be funded by enterprises totalling $321,4m, Development and Reconstruction Fund of Uzbekistan as of $750,5m, foreign investment as of $1901,3, and commercial bank loans – $120,4m.

Seven fertilizer facilities will be built in the next 5 years, including ammonia and urea facility at Navoiazot $985,7 m worth and ammonia facility at Ammofos Maksam $300m worth. The nitrogen fertilizer output is expected to grow by 46%, phosphorous – by 97%, and potassium – twice, as a result of the projects.

Moreover the programme suggests the investment of $1,08bn in organic and non-organic chemicals. It is projected to build 17 new facilities. The largest project is the construction of PVC, caustic soda and methanol on the premises of Navoiazot totalling $500m.

As projected, by 2022, the chemical production will grow 2,4-fold, with exports equalling to $467,4m, thus exceeding present-day performance 2,7-fold.

Chemical industry is among Uzbekistan’s fundamental economy branches.

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