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...
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.