Daewoo E&C Opens Turkmenistan Branch... "Full-Scale Expansion into Central Asia"

Daewoo E&C is opening a branch office in Turkmenistan to actively pioneer the Central Asian market.

Daewoo E&C announced on the 3rd that it opened a branch office in Ashgabat, Turkmenistan, on the 31st of last month.

The event was attended by Jeong Won-joo, Chairman of Daewoo E&C, Park Jin, Minister of Foreign Affairs, Ji Gyu-taek, Ambassador to Turkmenistan, Choi Tae-ho, Director-General for Europe at the Ministry of Foreign Affairs, and other Korean diplomatic officials, as well as Baymurat Annamamedov, Deputy Prime Minister in charge of Construction, Power, and Production of Turkmenistan.

At the branch opening ceremony, Chairman Jeong Won-joo said, "I sincerely thank the Turkmenistan and Republic of Korea governments and the client representatives who actively supported the establishment of this branch office," adding, "Daewoo E&C will faithfully serve as a bridge between Korea and Turkmenistan beyond being just a private company." Chairman Jeong and Daewoo E&C also attended the Korea-Central Asia Cooperation Forum during their visit to Turkmenistan.

This is Chairman Jeong’s second visit to Turkmenistan, where he is actively working to secure fertilizer plant contracts. In May, he visited Turkmenistan and consecutively met with President Serdar Berdimuhamedow and Gurbanguly Berdimuhamedow, the country's Supreme Leader and Chairman of the People's Council, playing a frontline role as a Daewoo E&C salesman. Daewoo E&C plans to finalize contracts within this year for two fertilizer plant projects currently under negotiation.

The projects Daewoo E&C is pursuing are located in Balkan Province on the Caspian Sea coast, in Turkmenbashi, and include the "Kiyanly Urea-Ammonia Fertilizer Plant," which will produce 1.155 million tons of urea and 660,000 tons of ammonia annually. Another project is the "Turkmenabat Fertilizer Plant," located in Turkmenabat, the second-largest city in Turkmenistan, about 500 km east of the capital Ashgabat. Additionally, Daewoo E&C is exploring participation in the second phase of the "Arkadag New City" project, a smart city housing 64,000 residents, located 30 km southwest of Ashgabat.

A Daewoo E&C official stated, "Starting with the establishment of this branch office, we will pioneer Central Asia and lay the foundation for future growth," adding, "With pride as a national representative construction company, we will build Daewoo E&C’s reputation in Turkmenistan."

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