Daewoo E&C Discusses Cooperation Plans with Turkmenistan Economic Delegation

An economic delegation from Turkmenistan, including Baymurat Anamammedov, Deputy Minister of Construction and Industry, who is visiting Korea, visited the headquarters of Daewoo Engineering & Construction in Euljiro, Seoul on the 17th.

Jung Won-joo, Chairman of Daewoo E&C, meeting with the Turkmenistan economic delegation

According to Daewoo Engineering & Construction on the 19th, the Turkmenistan economic delegation held separate meetings with Chairman Jeong Won-ju and President Baek Jeong-wan of Daewoo Engineering & Construction to discuss comprehensive cooperation plans for fertilizer plant projects and new town development projects.

Chairman Jeong said during the meeting, "All employees are doing their best to ensure the successful signing of two EPC (Engineering, Procurement, and Construction) contracts for fertilizer plant projects that Daewoo is actively promoting."

President Baek also stated, "We are in the process of establishing a Turkmenistan branch office, aiming to open it between September and October. Through this, we will be able to communicate more closely with the Turkmenistan government and cooperate promptly."

The economic delegation visited the Royal Park City Prugio site at Geoman Station in Incheon, constructed by Daewoo Engineering & Construction, the Northeast Asia LNG Terminal plant site in Ulsan, and the Busan Geoga Bridge on the following day. On the 19th, they also toured the 'Summit Gallery,' Daewoo Engineering & Construction's housing exhibition hall.

Previously, in November last year, Daewoo Engineering & Construction signed two Memorandums of Understanding (MOUs) with Turkmen Chemical Corporation related to the construction of fertilizer plants.

The MOUs involve the new construction of the Balkan urea-ammonia fertilizer plant and the Turkmenabat phosphate fertilizer plant.

Meanwhile, the economic delegation visiting Korea this time also included Chairman Deriyageldi, who is in charge of the Arkadag new town development project.

The Arkadag new town development project involves developing a 10.02 million square meter site located 30 km southwest of Ashgabat, the capital of Turkmenistan, to build a smart new town housing 64,000 residents, with a total investment cost of about 5 billion USD.

Construction began in 2019, and the first phase was completed in June. Daewoo Engineering & Construction has expressed its intention to participate in the second phase, which will continue until 2026.

This content was produced with the assistance of AI translation services.