OREANDA-NEWS. February 17, 2012. Kor UNG Investments, an Uzbek-South Korean joint venture, started work on construction of a network of compressed natural gas (CNG) stations in Uzbekistan, Prime reported quoting source in the venture.

The source said that the enterprise announced tender on designing and general construction works of the first CNG station in Karakalpakstan.

The cost of the project is US.8 million and it envisages construction of 50 CNG stations in all regions of Uzbekistan with capacity of 4 million CNG a year. The project will be implemented in three years.

In line with the project schedule, it is planned that the venture will build 26 CNG stations in 2012, 13 in 2013 and 11 in 2014. The venture will also exploit the stations.

The project will be financed due to resources of the joint venture.

Kor UNG Investments was founded in May 2011. Avtogaztaminot and Kogas, Kolon, Kwangshin, EngineTech (Korea) are founders of the venture.

In March 2011, Avtogaztaminot, Zavod Uzbekkhimmash (both Uzbekistan), KOGAS, KOLON and NK (South Korea) also founded a joint venture Ko UNG Cylinder, which will produce equipment for CNG stations.

Ko Ung Cylinder was founded in Navoi free industrial and economic zone and it will produce 120,000 units of automobile gas containers. The project cost is US million and it is planned that the venture will start its work in the first half of 2012.