Turkmenistan, China sign contract for carbamide plant construction

Turkmenistan Materials 29 January 2007 15:10

(www.turkmenistan.ru) - Turkmenistan and China has signed a contract for the turnkey construction of a carbamide plant with the capacity of 400 thousand tons in the town of Mary and for reconstruction of existing production units at Maryazot plant.

The signing ceremony was held in the Ministry of energy and industry of Turkmenistan. The contract was concluded within the framework of the intergovernmental agreement on cooperation in the sphere of chemical industry signed by two countries earlier. A high-ranking business delegation of China arrived in Ashgabat specifically for this occasion, reports Trend.

The large-scale project worth US $ 266 million will be implemented by Chinese company CITIC GROUP. According to the contract, 90% of works will be funded by a soft loan issued by the Chinese government with the remaining 10% covered by the customer, Turkmendokun joint-stock company.

At the talks, the Turkmen side invited CITIC GROUP to take part in an international tender for construction of industrial facilities near the village of Garlyk in Lebap province where vast reserves of potassium salt were discovered.