Business forum on the theme "MTO Gas Chemical Complex: Technologies of New Uzbekistan" was held in the ice complex "Humo Arena", which was attended by representatives of business and governmental organizations. The participants were provided with detailed information on construction and operation of gas chemical complex based on methanol-to-olefins (MTO) technology, located in Karakul, Bukhara region.
Minister of Energy of Uzbekistan Alisher Sultanov, Deputy Director General of SEG and Director of the MTO Gas Chemical Complex Masrur Shakirov, presented a welcoming speech.
The gas chemical complex, with a construction cost of USD $2,5 billion, will be commissioned in the fourth quarter of 2023 and will supply Uzbekistan's industry with olefin hydrocarbons, which are strategically important raw materials for the country. The plant will operate on domestic raw materials, based on a licensed technological process for turning methanol into olefins, is unmatched in the CIS.
After completion of construction, the complex will significantly accelerate import substitution in Uzbekistan, ensure diversification of the economy, and will also contribute to the development of various domestic sectors of the economy.
The establishment of a free economic zone (FEZ) in the Karakul region has also been announced. An English-language legal regime will be established in the FEZ, and businesses will be allowed to conduct business in foreign currencies. An uninterrupted supply of natural resources, including electricity partly from renewable energy sources, will be guaranteed for all businesses.
According to preliminary estimates, the new plant, as well as related industries in the FEZ, will create around 2300 new jobs and generate more than $2 billion in additional tax revenue over the next 20 years.
The project involves minimize negative environmental impact. Compliance with all international environmental standards is monitored and verified by globally recognized environmental consultants Mott MacDonald Group Limited (UK).