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...
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