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South Korean construction company Daewoo Engineering & Construction has won a tender to build a mineral fertilizer plant in Turkmenabat. The Korea Herald reports that the facility, located 450 kilometers east of Ashgabat, will be capable of producing 350 000 tons of phosphate fertilizers and 100 000 tons of ammonium sulfate annually.
This project is part of Daewoo E&C's strategy to strengthen its position in Central Asia. The company plans to expand its presence in the region not only in the petrochemical sector, but also in infrastructure projects and the development of new cities.
An important step in the development of cooperation was the opening of a Daewoo E&C branch in Ashgabat last October. The opening ceremony was attended by high-ranking representatives of both countries, including the company's chairman Jeong Won-ju and Deputy Prime Minister of Turkmenistan Baymyrat Annamammedov.