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Update: ADB approves loan for Uzkbeki project
06 February 2012
The Asian Development Bank (ADB) has approved a loan for Uzbekistan’s Surgil Natural gas Petrochemical Plant.
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Asian Development Bank
ADB
Surgil
The Asian Development Bank (ADB) has approved a loan for Uzbekistan’s Surgil Natural Gas Petrochemical Project, the largest ever petrochemical plant to be built in the country.
ADB has approved a loan and political risk guarantees totalling up to $400 million. The board of ADB agreed to the financing on 25 January. ADB’s participation will also help ensure that the facilities comply with internationally acceptable environmental, health and safety standards, and add a spur to the development of the overall project.
ADB is providing a 13-year loan of up to $125 million, and a 13-year guarantee of up to $275 million. This will cover certain risks on loans extended by commercial lenders to Uz-Kor Gas Chemical, the sponsor consortium comprising Korea Gas Corporation,...
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