Japan implementing big projects in Turkmen energy sector

Turkmenistan Materials 13 April 2017 18:26 (UTC +04:00)

Ashgabat, Turkmenistan, Apr. 13

By Huseyn Hasanov – Trend:

Japan plans to implement joint projects worth more than $18 billion in Turkmenistan, the Turkmen Dovlet Habarlary state news service reported Apr. 13.

Agreements were reached during the official visit of Japanese Prime Minister Shinzo Abe to Ashgabat in October 2015.

A package of agreements, contracts and other bilateral documents were signed with representatives of Japanese business and financial circles.

Moreover, a contract was signed between the Turkmengas State Concern and a consortium of companies, which also includes Itochu Corporation, on the construction of a plant in the Ahal Province on production of synthetic liquid fuel through the processing of natural gas.

Meanwhile, a framework agreement was also concluded on the construction of a “turn-key” plant for the production of polyethylene and polypropylene in Turkmenistan’s Dashoguz Province.

A number of projects related to gas processing are planned to be implemented in the chemical industry and power industry.

The report also says that Turkmenistan’s State Bank for Foreign Economic Affairs and Japan’s Sumitomo Mitsui Banking Corporation signed an agreement on cooperation.