ASHGABAT, Turkmenistan, June 29. Turkmenistan is ready to consider specific proposals from South Korean Daewoo E&C for the development of the chemical industry, in particular the production of phosphorous, ammonia, and urea fertilizers, Trend reports.
According to an official source, this was stated by President of Turkmenistan Serdar Berdimuhamedov during a meeting in Ashgabat with the President of Daewoo Engineering & Construction Co., Ltd., Jung Wan Baek.
During the meeting, among the priority areas of cooperation, the parties identified the gas and chemical industries, transport, high technology, investment, and more.
They placed special emphasis on the great opportunities of bilateral partnership in terms of creating a new look for Turkmen cities, the participation of South Korean companies in the second stage of the construction of Arkadag city, and the implementation of the 'Ashgabat City' project.
Jung Wan Baek noted that Turkmenistan, which has gained a reputation as a reliable business partner on the world stage, has created a solid foundation for the effective work of foreign companies and the implementation of joint investment projects.
Meanwhile, in November last year, South Korean Daewoo Engineering & Construction opened its branch in the Turkmen capital Ashgabat to work more effectively in the fast-growing market of Turkmenistan.
Turkmenistan is implementing 14 investment projects with the participation of South Korean companies, the amount of which currently exceeds $11 billion.