Kor UNG Investments to build 60 gas-filling compressor stations in Uzbekistan by 2015
09/12/2013 18:29
Kor UNG Investments to build 60 gas-filling compressor stations in Uzbekistan by 2015
09/12/2013 18:29
Tashkent, Uzbekistan (UzDaily.com) -- Kor UNG Investments, an Uzbek-South Korean joint venture, will construct 60 automobile gas-filling compressor stations in Uzbekistan, RIA Novosti reported quoting the source in the venture.
The primary project was corrected and divided into two stages. It is planned to attract additional financial resources and additional 10 stations will be constructed, the source said.
The changed project with total cost of US$105 million envisages construction of 60 compressed natural gas (CNG) stations in all regions of Uzbekistan with annual production capacity of up to 4 million cubic meters of CNG a year.
In the first stage (2013), it is planned to commission 30 CNG station and another 30 CNG stations in 2014.
Earlier, it is planned to create a network of 50 CNG stations with total cost of US$42.8 million by the end of 2014.
The project will be financed due to own resources of the joint venture founders and attracted loan resources.
Kor UNG Investments was founded in May 2011. Avtogaztaminot (part of Uzbekneftegaz, Uzbekistan) and Kogas, Kolon, Kwangshin, EngineTech (South Korea) are founders of the venture.
According to official data, currently 20% of total 3 million registered automobiles in Uzbekistan use gas as fuel.
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