Indorama plans to invest over €437 mln in a joint venture project to construct a 400,000 tpa polyethylene plant in Uzbekistan with national gas company Uzbekneftegaz. The €874 mln scheme is part of a plan by the Uzbekistan government to upgrade it’s Mubarek gas processing complex by 2015. Uzbekneftegaz will contribute €110 mln, while the Fund for Reconstruction and Development will loan the remainder of the cost. Originally commissioned in 1971, the Mubarek gas complex can currently process up to 30 bln cubic metres of gas. The PE and other complex products are due to be sold, not only in Uzbekistan but also abroad. The polyethylene scheme is one part of a major Uzbek government programme designed to enhance and develop polymers production in the country. Last year the government signed a bilateral agreement with South Korea resulting in a joint project to construct a petrochemicals and polyolefins complex there.