Japanese to make PP at Turkmen refinery

Feb 19, 1997 01:00 AM

Turkmenistan has signed a $ 400 mm deal with Japan's Itochu Corp, JGC Corp and Nisso Industry to make polypropylene at a Turkmen oil refinery. An official, from state oil and gas company Turkmenneftegaz told that PP would be produced at the Turkmenbashi refinery in the western port town of Turkmenbashi on the Caspian Sea. Polypropylene output would be 90,000 tpy, he said, adding that the product was essential for the automobile and energy sectors. It would be made mostly for export.The project would be financed by a loan from the Japanese government to be paid back in hard-currency earnings from PP exports. The deal was brokered by Israeli company Merhav. Last year Merhav helped to arrange a $ 500 mm deal to reconstruct the Turkmenbashi refinery by German, Israeli, Iranian, Turkish, French and Japanese companies.

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