Honam Spends $350M For Bigger Stake In Uzbek Gas Plant

Law360, New York (March 5, 2012, 5:42 PM EST) -- South Korea's Honam Petrochemical Corp. will purchase an extra 2 percent stake worth 391.9 billion Korean won ($350.3 million) in a $4 billion Uzbekistan gas development project, the company reported in a Korean regulatory filing Monday.

The purchase will give Honam a 24.5 percent stake in the Surgil Natural Gas Chemicals Project, a petrochemical plant in Uzbekistan’s Karakalpakstan region that is sponsored by a combination of South Korean and Uzbek companies, Dow Jones reported.

Uz-Kor Gas Chemical LLC, the Surgil developer and operator, represents a joint...
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