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S.Korean company ready to implement new business projects in Turkmenistan

Turkmenistan Materials 1 September 2018 10:29
President of Turkmenistan Gurbanguly Berdimuhamedov has received the Chief Executive Officer (CEO), President & Director of Hyundai Engineering Co.,Ltd. company (Republic of Korea) Sang-Rok Sung.
S.Korean company ready to implement new business projects in Turkmenistan

Ashgabat, Turkmenistan, Sept. 1

By Huseyn Hasanov – Trend:

President of Turkmenistan Gurbanguly Berdimuhamedov has received the Chief Executive Officer (CEO), President & Director of Hyundai Engineering Co.,Ltd. company (Republic of Korea) Sang-Rok Sung, Altyn Asyr TV channel reported Sept. 1.

During the meeting, the sides discussed prospects of cooperation in the field of transport and logistics, implementation of joint infrastructure projects, long-term investment. The head of the South Korean company said he was ready to present new proposals to the Turkmen side.

It was noted at the meeting that the implementation of investment projects in the field of industrial processing of natural resources and diversification of the industrial sector of the local economy is the priority area of cooperation. The focus of cooperation on the creation of new, high-tech industries, in particular in the gas chemical industry was emphasized. There are opportunities to intensify cooperation in this industry with Hyundai Engineering company, which acted as a partner in the implementation of a large-scale construction project in Kiyanly complex for the production of polyethylene and polypropylene, the TV report said.

The enterprise in the Pre-Caspian settlement of Kiyanly of Balkan region of Turkmenistan is planned to be put into operation in September this year. It will process 5 billion cubic meters of natural gas and produce 381,000 tons of high-density polyethylene, 81,000 tons of polypropylene annually. At the same time, up to 4.5 billion cubic meters of commercial gas will be produced. The project worth more than $ 3.4 billion is implemented by the Turkmengaz State Concern together with LG Engineering and Construction Corporation, Hyundai Engineering Co.,Ltd. company (South Korea) and TOYO Engineering Corporation (Japan).

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