Turkmenistan aims to attract foreign investment in chemical industry

Business Materials 21 November 2019 15:40 (UTC +04:00)

ASHGABAT, Turkmenistan, Nov. 21

By Huseyn Hasanov– Trend:

Over the past ten years, more than $3.3 billion have been invested in the development of the Turkmenhimiya (Turkmenchemistry) State Concern, Trend reports referring to the State News Agency of Turkmenistan.

These indicators were announced by the President of Turkmenistan Gurbanguly Berdimuhamedov during a working meeting on the sector issues.

"The creation of small and medium-sized enterprises is necessary to increase the range of manufactured chemical products. But for this, foreign investments are not actively attracted," Berdimuhamedov said.

It was noted that in a short period, four enterprises were built and commissioned in the country - Marykarbamid, Garabogazkarbamid, Garlyk mining and processing complex for the production of potash fertilizers and a sulfuric acid production unit.

The capacity of the state concern for the production of mineral fertilizers tripled with the commissioning of the new enterprises, which created more than 3,500 new jobs.

However, the constructed plants have not been brought to full design capacity, which would allow timely and sufficient supply of the country's agricultural sector with mineral fertilizers, export them and gain profit in foreign currency, the Turkmen president noted.

Corresponding work on the reconstruction of obsolete chemical enterprises has not been carried out, proper measures are not taken to equip them with modern technologies. As a result, the plan for the production of mineral fertilizers by the State Concern for January-October 2019 was implemented by just over 59 percent.

The main goal of the concern’s work is to ensure the needs of the national economy and the population of Turkmenistan in mineral fertilizers and chemical products, as well as to sell them abroad.

This structure was formed in 2007 with the aim of organizing the management of enterprises producing and distributing mineral fertilizers and chemical products in Turkmenistan. The state chemical concern consists of nine industrial enterprises, an enterprise providing services in the sale of mineral fertilizers to consumers (Dokunkhimiya) and a branch research institute (institute of chemistry).