Turkmenistan, South Korea Ink Deal For Fertilizer Production Plant

(MENAFN- Trend News Agency) ASHGABAT, Turkmenistan, June 10. The State Concern Turkmenhimiýa has signed a contract with South Korean company Daewoo Engineering & Construction Co., Ltd. for the design and construction of a fertilizer production complex based at the Niyazov Turkmenabat Chemical Plant, Trend reports.

The new facility will specialize in the production of phosphate fertilizers and ammonium sulfate. Construction is scheduled to be completed by 2029. The project is expected to make a significant contribution to the development of the country's industrial and agricultural infrastructure.

The agreement reflects Turkmenistan's commitment to sustainable development and openness to cooperation with major foreign investors and contractors in the field of high-tech construction.

Daewoo E&C is one of South Korea's largest engineering and construction companies. In October 2023, it opened a branch office in Ashgabat, further strengthening its presence in the Turkmen market.

The "Turkmenhimiya" state concern was established by the Turkmenistan Presidential Decree on August 24, 2007, to administer mineral fertilizer and chemical companies. The "Turkmenhimiya" state concern must meet Turkmenistan's agricultural needs for mineral fertilizers, increase the volume and variety of mineral fertilizers and chemical products for domestic and export, increase iodine product production, and fully utilize iodine-bromine resources to produce high-quality goods.

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