Uzbek-Canadian joint venture Tekhnochem will invest $420 million in its petrochemical cluster in Bukhara region under a 2024–2028 programme, reported UzDaily, citing the press service of the President of Uzbekistan.
The company has already invested $200 million. The financing comes from $300 million of its Uzbek and Canadian founders’ funds and $120 million in loans from InfinBank and the Islamic Development Bank. The cluster occupies 69 hectares in the Gijduvan Free Economic Zone and employs about 500 people.
Processing capacity is set to rise from 260,000 to 660,000 tonnes of raw materials a year. Projects due in 2026 include a pyrolysis distillate hydrotreatment unit and a naphtha, gas condensate and methanol facility. The largest project, a $250.4 million aromatic hydrocarbons plant, is planned for 2027–2028.
The company expects to raise annual output to 6.2 trillion soums, pay up to 575 billion soums in taxes, create 700 new jobs and export about $200 million worth of products a year, including petrochemicals, petrol and diesel. Potential markets include neighbouring Central Asian countries, Afghanistan and the EU.
President Mirziyoyev visited the cluster on November 3 and instructed officials to support its expansion, including land allocation and specialist training.
CentralasianLIGHT.org,
November 4, 2026