Ashgabat, Berlin to negotiate investment projects

Business Materials 19 November 2012 14:37

Turkmenistan, Ashgabat, Nov. 19 / Trend H. Hasanov /

The Day of the German Economy is planned to be held in Ashgabat on Nov. 21. Representatives from more than 70 German companies and the country's state agencies will attend, an official Turkmen source said today.

Companies operating in such sectors as oil and gas, chemical, energy, construction, agricultural and food, financial and banking sectors, medicine and education are expected to attend.

Heads and employees from 33 ministries, departments and private enterprises are expected to participate from the Turkmen side.

The presentations and business meetings devoted to investment and business opportunities in Turkmenistan, the prospects for increasing bilateral trade will be held within the event.

Turkmen President Gurbanguly Berdimuhamedov has recently drawn attention to the dynamic nature of cooperation between Turkmenistan and Germany at a governmental meeting.

'The president spoke about the implementation of previous agreements in several key areas and the possibility of implementing new investment projects in the context of developing the Turkmen-German partnership', a government statement said.

While implementing large projects in Turkmenistan, the German companies as a rule, used the loans of leading German banks. In particular, such projects as the construction of plants for the production of lubricating oils and paraffin and the construction of a gas compressor station in Korpeje.

Such companies involved are: Mannesman, Claas and MAN, Bosch, Bentek, Siemens, Unionmatex GmbH and others. To this list could be included Thyssen Krupp, Airbus, Cifal, Knauf, Goetzpartners, Inhar, Textina, Bauer Comp Holding AG and Lemken GmbH, all of whom showed interest in the Turkmen market, proving themselves in Turkmenistan.

In April 2009, the Turkmen government signed a long memorandum with one of the leading traders of natural gas on the EU market - RWE AG, which conducted exploration in the Turkmen sector of the Caspian Sea and is a shareholder of the Nabucco pipeline project.

Turkmen hydrocarbon resources can be connected to the transnational communication via the Caspian Sea thanks to the construction of a small branch (about 300 kilometres) under the sea to the Azerbaijani coast.

Europe hopes to diversify sources of gas consumption by using the Caspian resources, most of which are ensured by Russia.