Daewoo E&C: Turkmenistan is a promising opportunity for us
On Monday, South Korean construction company Daewoo Engineering & Construction released a report on the company's Chairman Jeong Won-joo's visit to Turkmenistan to attend the CIET 2024 Conference and Exhibition, an annual event dedicated to the country's construction, industrial and energy sectors.
During the event, which was held in Ashgabat from November 3 to 5, Jeong Won-joo met with key officials to discuss Daewoo's plans to develop local business, building on its recent win of a mineral fertilizer plant project in Turkmenistan, Daewoo E&C reported.
On November 5, Jeong Won-joo held talks with Baimyrat Annamammedov, Deputy Prime Minister of Turkmenistan for Construction, Industry and Electric Power, and other senior officials.
At the meeting with Annamammedov, Jeong Won-joo expressed his appreciation for choosing Daewoo as the contractor for the fertilizer plant project. “As a leading South Korean construction company, Daewoo looks forward to supporting Turkmenistan’s economic growth through stable investments in this resource-rich country.”
The fertilizer plant in Turkmenabat, about 450 kilometers east of Ashgabat, will be able to produce 350,000 tons of phosphate fertilizer and 100,000 tons of ammonium sulfate per year. The project is currently in the pre-contract stage, and financial arrangements are expected to be finalized soon.
Jeong Won-joo also met with Ashgabat Mayor Rahim Gandymov, who expressed interest in Daewoo’s expertise for the new urban development plans in the Turkmen capital, including smart city infrastructure and high-rise construction. Jeong Won Ju assured Gandymov that Daewoo is fully committed to supporting these plans with its experience and technical expertise.
Summarizing Jeong Won-joo’s visit, a representative of Daewoo E&C noted: “Turkmenistan represents a promising opportunity for us, similar to our Starlake City project in Vietnam. We aim to establish Turkmenistan as a key market in Central Asia, demonstrate Daewoo’s capabilities, and contribute to local economic development,” The Korea Herald reports.
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