Lotte Chemical
South Korea’s Lotte Chemical participated in the landmark development of the Ustyurt Gas Chemical Complex at the Surgil gas field in Karakalpakstan through the Kor-Uz Gas Chemical joint venture. Representing a total capital investment of approximately $4 billion—supported by roughly $2.5 billion in syndicated project debt from international development banks and export credit agencies—the project was officially inaugurated in 2016. The complex integrates natural-gas extraction with advanced polymer production, featuring a designed annual capacity of 387,000 tonnes of polyethylene and 83,000 tonnes of polypropylene, alongside other petrochemical by-products. As the core industrial partner within the Korean consortium, Lotte Chemical contributed capital, modern technology, and manufacturing expertise. The facility has significantly diversified Uzbekistan’s petrochemical value chain, replaced polymer imports, and fostered downstream production in plastic goods, pipes, household containers, and packaging.