Both firms also plan a joint venture
China's CIMC and Uzbekneftegaz sign a $14 million contract for equipment supply
In line with the agreement’s terms CIMC Enric Compressor Ltd will equip ten natural gas filling stations, with the capacity of 2.4 million cubic meters each. The fueling facilities, located in different regions of Uzbekistan, are expected to be completed by the fourth quarter of 2012 and the will be paid with funds of Uzbekneftegaz National Holding Company.
The Chinese company won the first tender announced by Uzbekneftegaz in January 2011
. The tender for the purchase and delivery of 100 CNG stations at a total amount of $140.8 million covers three lots.
Furthermore, Uzbekneftegaz and CIMC plan to establish a joint venture to manufacture equipment for natural gas stations before the end of 2012. The project will be implemented within two years and a preliminary feasibility study foresees a production of up to 100 fueling sites per year.
Production facilities will be located on the Navoiy free industrial and economic zone and the US$15-million project will be financed due to own resources of the venture’s partners, reported PetrolPlaza.com