Uzbekneftegaz press service said that the document was inked during the visit of Omani delegation to Uzbekistan.

The joint venture on production of polyethylene pipes will be located at Navoi free industrial-economic zone (FIEZ).

The joint venture will be created at the base of Polietilen Quvurlari (Polyethylene Pipes), which launched its work in Navoi FIEZ. The enterprise can produce 8,600 tonnes of 75 to 630 mm polyethylene pipes a year. The cost of the project is US$7.2 million. The company will export products for over US$5.9 million.

During the meeting of Uzbekneftegaz and Oman Oil Company, the sides considered issues of developing partnership, including within the projects at Navoi FIEZ.

Navoi free industrial-economic zone was founded in December 2008 in accordance with the President’s decree to create favorable conditions for attracting foreign investments to Uzbekistan, create modern highly technological enterprises and develop the country’s industrial potential and industrial, transport and social infrastructure.

At present, 16 projects are being implemented in Navoi FIEZ. Five of them have already started functioning, and seven more are to be launched by the end of this year. The new enterprises will produce energy saving bulbs, LCD monitors, electric gas meters, ready medicines, generators, compressors and instrument sets for GM Uzbekistan cars.