Buyer's Credit for the Turkmenistan Government
Supporting the export of equipment for an ethylene complex, Gas to Gasoline plant, and chemical fertilizer plant by Japanese companies
- Area: Asia
- Machinery and Equipment
JBIC concluded three buyer's credit*1 loan agreements with the Turkmenistan government. The buyer's credit will provide funds for (1) Turkmenistan's state-run gas company Turkmengas to construct an ethylene complex to produce high density polyethylene and polypropylene*2 from natural gas, (2) the construction of a Gas to Gasoline plant to produce gasoline from natural gas, and (3) Turkmenistan's state-owned petrochemical company, Turkmenhimiya, to construct a chemical fertilizer plant to produce ammonia and urea fertilizer from natural gas. Supporting the export of plants produced by Japanese companies through this financing not only helps create business opportunities for Japanese companies, but also contributes to a more diverse energy sector for Turkmenistan, which continues to record strong economic growth.
- *1Buyer's credit is a loan JBIC directly extends to a foreign importer (buyer) to finance its import of machinery, equipment or services from a Japanese company.
- *2High density polyethylene/polypropylene is one of the major raw materials of plastics and is mainly used in automobile parts, home appliance parts, packaging films, food containers, etc.