TASHKENT, Sept. 28 (Xinhua) -- Uzbekistan's second largest oil refinery, Fergana, will be able to produce Euro 5 gasoline next year, the new owner of the refinery, Sanoat Energetika Guruhi (SEG), said on Wednesday.
A technical re-equipment project, intended to fully modernize the 63-year-old facility, is expected to cost 400 million U.S. dollars and be completed in late 2023, SEG said in a statement.
SEG, the largest private oil and gas company in Uzbekistan, bought 100 percent state stake in the Fergana oil refinery in June this year.
Uzbekistan, a resource-rich Central Asian nation which has in recent years embarked on a series of economic reforms including a massive privatization move, has two large refineries, Bukhara and Fergana, both of which has relied on aged technology for decades. ■
