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Turkmenistan signs loan agreement for petchems project

6:33 AM MDT | May 30, 2014 | Natasha Alperowicz

The State Bank for Foreign Economic Affairs of Turkmenistan has signed a 10-year loan agreement with the Japan Bank for International Cooperation and the South Korea Export-Import Bank, local news agencies report. The loans will be used to cover the construction of a previously announced gas chemical complex at Turkmenbashi, Balkan Province, Turkmenistan, which will produce 400,000 m.t./year of ethylene, 386,000 m.t./year of high-density polyethylene and 81,000 m.t./year of polypropylene.   This follows Toyo Engineering’s May announcement that it...

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