Home > Uzbekistan > Kexim to Help Finance $1 Billion for Korean Firms in Uzbekistan Gas (...)

Monday 26 March 2012

Kexim to Help Finance $1 Billion for Korean Firms in Uzbekistan Gas Project


  0 forum post

SEOUL (Dow Jones Newswires) – State-run policy bank Export Import Bank of Korea, or known as Kexim, said Monday it will provide $1 billion worth in project financing for Korean companies participating in a multi-billion gas project in Uzbekistan.

Eight Korean companies including Korea Gas (036460.SE) and Honam Petrochemical (011170.SE) are currently participating in the Uzbekistan Surgil gas field development and plant construction project, which it will be helping finance, Kexim said in a statement.

In 2008, Kogas decided to establish a joint venture company called Kor-Uz Gas Chemical with Uzbekistan’s state-run Uzbekneftegaz to develop the Surgil gas field.

Honam Petrochemical recently decided to increase its stake in the venture to 24.5% from 22.5% previously. Korea Gas holds a 22.5% stake, while Uzbekneftegaz holds 50%.

Any message or comments?


This forum is moderated before publication: your contribution will only appear after being validated by an administrator.

Who are you?
Your post

To create paragraphs, just leave blank lines.