The presidents of Uzbekistan and South Korea have signed energy deals worth a total of around $4.1 billion, marking a notable investment coup for the diplomatically isolated ex-Soviet nation. South Korean President Lee Myung-bak wrapped up a two-day state visit Wednesday to Uzbekistan that was crowned by an agreement to develop a major gas field and build a chemicals plant in the country.
"This is where we declare the beginning of a petrochemical complex that can change the history of Uzbekistan," Lee was cited as saying by South Korea's Yonhap news agency. Uzbekistan's foreign ministry said in a statement on its website Wednesday that the chemical plant will require $2.6 billion worth of investments to complete. The plant will process reserves drawn from the yet-undeveloped Surgil field, which is estimated to hold around 130 billion cubic meters of natural gas.
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