The state concern Türkmenhimiýa is set to sign a contract with South Korea’s Daewoo Engineering & Construction Co., Ltd for the construction of a mineral fertilizer production complex. The sig ning was authorized by the resolution issued by the President of Turkmenistan.
Under the contract, a new production facility will be designed and built within the Turkmenabat Chemical Plant named after S.A. Niyazov, with an annual output capacity of 350,000 tons of superphosphate and 100,000 tons of ammonium sulfate.
Min Manjun, General Director of Daewoo Engineering & Construction Co., Ltd’s Turkmen branch, previously stated that the company is committed to utilizing cutting-edge technologies and has undertaken extensive preparations for the project. A dedicated project team has been established, and financial support covering up to 85% of the total cost has been secured through South Korea’s export credit agencies and European financial institutions.
The project will be financed by Korean investments (Korea Exim Bank, K-Sure) and European investments (from the Swiss side – Serve).
Daewoo Engineering & Construction Co., Ltd operates across three major sectors: oil and gas and power generation, civil engineering, and residential construction. The company is currently involved in over 30 projects across 14 countries worldwide.