ADB Chips In $400M For Uzbek Petrochemical Plant

Law360, New York (January 25, 2012, 8:44 PM EST) -- Philippines-based Asian Development Bank will contribute a loan and political risk guarantee totaling $400 million to help build a $4 billion petrochemical plant in Uzbekistan’s Karakalpakstan region that is sponsored by a combination of South Korean and Uzbek companies, ADB announced Wednesday.

The ADB financing will consist of a 13-year, $125 million loan for the Surgil Natural Gas Chemicals Project, as well as a 13-year, $275-million political risk guarantee, which will be used to cover “certain risks on loans extended by commercial lenders” to developer and...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.