Turkmenhimiya and Daewoo E&C Sign Framework Agreement on Plant Project in Turkmenabat
Deputy Chairman of the Cabinet of Ministers of Turkmenistan for Construction and Industrial Complex Baimyrat Annamammedov and Minister of Trade, Industry and Energy of the Republic of Korea Dookgeun Ahn held talks in Seoul on April 18 and discussed bilateral cooperation in the field of plants.
A signing ceremony of the Framework Agreement on the project of a mineral fertilizer plant worth 700 million US dollars was held before the talks. This project will be implemented by order of the State Concern Turkmenhimiya, and the Korean company Daewoo E&C will participate as a contractor.
After completion by 2029, the plant will process phosphorus for the production of fertilizers, which is expected to help increase the productivity of industry and agriculture in Turkmenistan and diversify the country's export portfolio.
During the talks, Minister Ahn proposed an early conclusion of a final agreement on the Turkmenabat fertilizer plant project and called on Turkmenistan to continue to support Korean companies to ensure their participation in additional plant construction projects in the future, South Korea's Ministry of Trade, Industry and Energy said on Friday.
Daewoo Engineering was named the preferred bidder for the project in October 2024, and the two sides aim to conclude the contract by the end of this year.
ORIENT
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