Daewoo Engineering & Construction opened a branch in Ashgabat
11:28 06.11.2023 8849
The Korean company Daewoo Engineering & Construction, a long-time partner of Turkmenistan, opened a branch in Ashgabat, the capital of Turkmenistan, on October 31. It will become a forward base for expanding activities in Central Asia, the company's press service reports.
The event was attended by representatives of the Korean Ministry of Foreign Affairs, including Chairman of Daewoo Engineering & Construction Jong Won-Joo, Foreign Minister Park Jin, Ambassador to Turkmenistan Ji Gyu Taek and Director of European Affairs Choi Tae-ho. The Turkmen side was represented by Vice-Chairman for Energy, Industry and Construction Baymyrat Annamammedov.
At the opening ceremony of the branch, Chairman Jong Won-Joo said, “I would like to express my sincere gratitude to the governments of Turkmenistan and Korea, as well as officials, for their active support in establishing the Daewoo E&C branch as more than a private company. This is a bridge between Korea and Turkmenistan”.
The Korean company Daewoo E&C signed a Memorandum of Understanding with the State Concern “Turkmenchemistry” in November last year and joint projects are being implemented on the basis of this document. The first project is the construction of an ammonium-urea plant in the Balkan velayat. The second project is a phosphate fertilizer plant with a capacity of 300,000 tons per year. Projects are financed with funds raised from credit agencies in Korea and Europe.
According to the company, Daewoo E&C is also expected to participate in the second stage of the project to build the smart city Arkadag.
EBRD predicts high growth rates of Turkmenistan’s GDP in 2023-2024
The European Bank for Reconstruction and Development (EBRD), in its May Regional Economic Prospects review, published its assessment of Turkmenistan’s GDP growth in 2023-2024.
Serdar Berdimuhamedov: Turkmenistan is ready to expand cooperation in the transport sector in the region of Central Asia and China
Turkmenistan is ready to expand cooperation in the transport sector in the space of the Central Asian region and China. This was stated by President Serdar Berdimuhamedov, speaking on Friday at the first Summit “Central Asia – China” in the ancient Chinese city of Xi’an.
The President of Turkmenistan proposed to implement new projects for gas supplies to China
President of Turkmenistan Serdar Berdimuhamedov, speaking at the first Central Asia-China Summit in the ancient Chinese city of Xian, proposed to continue work on the implementation of new projects related to the supply of Turkmen natural gas to China, TDH reports.
Leaders of Turkmenistan and China reaffirmed their commitment to the development of comprehensive cooperation
President Serdar Berdimuhamedov, who arrived on a working visit to the capital of Shanxi Province of the People’s Republic of China on May 18 to participate in the Central Asia-China Summit, held talks with Chinese President Xi Jinping in the afternoon, TDH reports.
Energy cooperation will be discussed at the Central Asia – China summit – experts
Theme of the energy cooperation will be among the priority on the agenda of the upcoming Central Asia – China summit, which will be held on May 18-19 in the ancient Chinese city Xi’an, according to well-known analytical centers and political scientists.