Turkmen side and major South Korean companies discussed and signed several agreements on the implementation of new investment projects in gas chemical complex of Turkmenistan during the visit of a delegation led by Gurbanguly Berdimuhamedov, the Chairman of Halk Maslakhaty chamber of the Turkmenistan’s bicameral parliament Milli Gengesh to the Republic of Korea on November 27-29.
These remarks were made by the delegation-member Rahymberdi Jepbarov, Chairman of the Board of the State Bank for Foreign Economic Affairs of Turkmenistan (Vnesheconombank), in an interview with official Turkmen media. The interview was published by the Turkmen press on Friday.
According to Jepbarov, among the considered projects are the construction by Korea’s Hyundai Engineering and LX International Corp., and Japanese Itochu Corporation of a gas processing plant to produce diesel and naphtha in Balkan province; construction by Daewoo Engineering and Construction of a urea plant with a capacity of 1.155 million tons in Balkan province and phosphorus fertilizer plant with a capacity of 300 thousand tons in Lebap province.
The sides also discussed and reached agreements on the supply of Hyundai vehicles, including electric buses and cars.
Rahymberdi Jepbarov also informed that the Turkmen side and the leaders of Korea Export-Import Bank KEXIM and the Korea Trade Insurance Corporation (K-Sure) agreed to start works on identifying investments projects to be implemented in Turkmenistan and investment operations on them.
As port of the visit, the Halk Maslakhaty Chairman held a meeting with major South Korean businesses on Tuesday.