Uzbekistan to construct $10 billion gas-chemical complex in Khorezm

President Shavkat Mirziyoyev, during his recent visit to the region, announced major projects aimed at turning the chemical industry into a key driver of Khorezm’s economy.

“This year, the first phase of a $10 billion MTO gas-chemical complex will begin in Toprak-Kala. The facility will produce 2 million tons of 14 types of high value-added base polymer products annually,” the president said.

Furthermore, a 10-hectare chemical technopark will be established in Hazorasp, featuring polymer production projects worth a combined $100 million.

Plans for the $10 billion complex were first announced during the president’s visit to Khorezm in March last year. At the time, he mentioned that negotiations were underway with leading global companies in the sector.

“Once operational, the project will create 3,000 jobs and manufacture 2.4 million tons of high value-added polymers annually. This will become not only a flagship project for Khorezm, but for the entire country's industrial sector,” President Mirziyoyev emphasized.

It was previously reported that meetings had been held with the leadership of a “major foreign investment company,” and that the project would be implemented between 2024 and 2028.

For context, a $1.8 billion project to expand Uzbekneftegaz’s Shurtan gas-chemical complex was suspended. A similar-capacity MTO-based plant is currently under construction in Karakul district of Bukhara region. That $2.7 billion project is being developed by Switzerland-based Gas Project Development Central Asia AG and Cyprus-registered Belvor Holdings Limited.

Earlier, it was announced that the Uzbekistan GTL plant, built for $3.4 billion, would be privatized.