The Uzbekistan GTL complex will be put into operation by the end of the year, the Energy Ministry said.
It will annually produce import-substituting petroleum products and hydrocarbons worth more than $1 billion (12.8 trillion soums).
At present, the total cost of the GTL project for the production of synthetic liquid fuel is $3.42 billion, with an internal rate of return on the project (IRR) of 10.2%, with a payback period of 9 years.
The initial cost of the project was $3.73 billion, but due to changes in design solutions, as well as a decrease in financial costs, the project cost was optimized by more than $310 million.
The state budget with the commissioning of the GTL complex will annually receive an average of more than 2 trillion soums of tax deductions.
In addition, given the ever-growing energy market, the use of GTL fuel is one of the most efficient, economical and safest ways to reduce gas emissions.
In terms of its scale, the UzGTL synthetic liquid fuel plant is one of the largest investment projects not only in Uzbekistan, but also in the CIS countries. The project is aimed at expanding Uzbekistan’s capacity for deep processing of natural gas, drastically reducing imports of hydrocarbon raw materials, as well as strengthening the energy independence of the republic.
The construction of this plant made it possible to provide jobs for more than 13 thousand people. After putting the plant into operation, about a thousand permanent jobs will be created.
