Turkmenistan approves investment program for 2022

Construction Materials 14 February 2022 11:49 (UTC +04:00)
Turkmenistan approves investment program for 2022

BAKU, Azerbaijan, February 14

By Amina Nazarli - Trend:

Turkmenistan has adopted a 40 billion manat ($11.45 million) investment program from all sources of funding for 2022, Trend reports citing Business Turkmenistan news portal.

The document was approved during an extraordinary meeting of the People's Council of Turkmenistan chaired by President of Turkmenistan Gurbanguly Berdimuhamedov.

These funds will be used to build or rebuild factories, hospitals, health centers, pre-school institutions, schools, cultural centers, administrative centers, new settlements, and residential buildings.

At the meeting Berdimuhamedov also stressed the need to establish the production of mineral fertilizers imported from abroad.

Last year, some 73 largest facilities were put into operation in Turkmenistan. One of them was the new high-voltage transmission line Akhal-Balkan, which has become an important link in the development of the the Akhal-Balkan-Dashoguz ring energy system.

The construction project for the ring power system was launched in July 2020 with the first 421-km long stage went into service in October 2021. This January, the "Turkmenenergogurlushyk" concern has started the second stage in the construction of a ring power transmission line connecting the Balkan and Dashoguz regions of Turkmenistan. The ring energy system is expected to be completed in 2023.

In addition, a 432 megawatt gas turbine power plant was built by Japanese Sumitomo Corporation in the Chardzhev district of the Lebap region. The plant includes three Mitsubishi Power Ltd environmentally sustainable gas turbine units totaling 144 megawatts each.