Turkmenistan and Japan consider investment prospects in gas and chemical industries

Turkmenistan and Japan consider investment prospects in gas and chemical industries

Investment opportunities in gas and chemical industries in the framework of the partnership of Turkmenistan with the Japan Bank for International Cooperation (JBIC) were discussed at a meeting at the Ministry of Foreign Affairs of Turkmenistan with the with the delegation from the Land of the Rising Sun.

The delegation was headed by the Vice-president of “ITOCHU Corporation” and Co-chairman of Japanese-Turkmen Committee for Economic Cooperation Mr. Yoichi Kobayashi.

During the meeting held on 21 January 2019, the issues on procurement of agricultural equipment produced by the “Komatsu” company were considered, the website of the Turkmen Foreign Ministry informs.

It is also noted that high-level Turkmen delegation visited Japan in October 2018, during which the issues of further widening bilateral cooperation in trade-economic sphere were discussed.

Turkmenistan is one of the largest by natural gas proven reserves and a leading natural gas exporter. At the same time, the country attracts the attention of investors not only with its large raw material potential, but also with the prospects for the development of diversified economy and the creation of new, high-tech industries. It is favorable for cooperation with large Japanese companies – world leaders in many IT developments.

For example, such large investment projects as “Garabogazkarbamid” plant for production of urea fertilizers in the city of Garabogaz, the region’s largest investment project, which has been put into operation in September 2018 and implemented by the participation of Japanese Mitsubishi Corporation, and gas chemical complex for production of polyethylene and polypropylene in Kiyanly, which was implemented jointly with “TOYO Engineering” (Japan) and the consortium of companies – “LG International Corporation” and “Hyundai Engineering Corp. Ltd” (the Republic of Korea). Mary Ammonia Fertilizer Plant launched in 2014 and equipped with high technologies from Kawasaki and Sojitz, as well as other projects can be mentioned also.