TASHKENT, Jun 14 (PRIME) -- Gas Project Development Central Asia AG, a subsidiary of Gazprom International, and Uzbek national energy holding Uzbekneftegaz have created jointed venture Djizak Pteroleum for construction of a U.S. $2.2 billion oil refinery in Uzbekistan’s Jizzakh Region, a representative of Uzbekneftegaz told PRIME on Wednesday.
“The constituent documents on the joint venture have been signed, it has been registered,” the representative said, adding that Uzbekneftegaz’s stake will amount to 60%, and Gas Project Development will have a 40% stake.
“Currently, the joint venture is working on signing a contract with a general contractor of the plant’s construction, and the contract is at the finishing stage,” the representative said without disclosing the name of the contractor.
The refinery will process 5 million tonnes of crude per year from Russia and Kazakhstan among other places. The joint venture is also to build a 95-kilometer pipeline that plugs into the Omsk–Pavlodar–Shymkent oil pipeline. The facility will produce 3.7 million tonnes of Euro-5 class motor fuel, 700,000 tonnes of jet fuel, and 300,000 tonnes of associated oil products like fuel oil and benzene.
The project will be financed with international loans, Gazprombank’s funds and by the Uzbek company.
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