Daewoo E&C Begins Construction of 1 Trillion Won Plant in Turkmenistan... Jung Wonju Vows to Strengthen Local Cooperation

Jung Wonju, Chairman of Daewoo Engineering & Construction, is delivering a congratulatory speech at the groundbreaking ceremony of the 'Mineral Fertilizer Plant' held on the 15th in Turkmenabat, Turkmenistan. Daewoo Engineering & Construction

원본보기 아이콘

Daewoo Engineering & Construction has officially begun construction on the 'Mineral Fertilizer Plant' project in Turkmenistan, valued at 1 trillion won. This project, for which the main contract was signed in May, marks the company's first substantial step into the Central Asian market.

On the 15th, Daewoo Engineering & Construction held a groundbreaking ceremony for the Mineral Fertilizer Plant in Turkmenabat, the second-largest city in Turkmenistan, the company announced on the 17th. The event was attended by President Serdar Berdimuhamedow, Deputy Prime Minister for Construction, Energy, and Production Annamammedov, and other government officials, as well as Jung Wonju, Chairman of Daewoo Engineering & Construction, and key representatives from both sides.

This project is worth a total of 784 million dollars (approximately 1.081 trillion won) and involves building facilities and auxiliary infrastructure capable of producing 350,000 tons of phosphate fertilizer and 100,000 tons of ammonium sulfate annually. The construction period is set for 37 months, and upon completion, it is expected to contribute to improving Turkmenistan's agricultural productivity and food self-sufficiency rate.

Chairman Jung stated, "This groundbreaking ceremony marks a new starting point toward a prosperous future and sustainable development for Turkmenistan," adding, "As a core project leading the development of the gas-chemical and agricultural industries, we will repay your trust with the highest quality through close cooperation with the local community."

Jung Wonjoo, Chairman of Daewoo Engineering & Construction, is shaking hands with Gurbanguly Berdimuhamedow, the Supreme Leader of Turkmenistan, in Ashgabat, the capital of Turkmenistan, on the 14th. Daewoo Engineering & Construction

원본보기 아이콘

The previous day in Ashgabat, the capital, Chairman Jung paid a courtesy visit to Gurbanguly Berdimuhamedow, the Supreme Leader and Chairman of the People's Council, and explained Daewoo Engineering & Construction's plans for petrochemical and infrastructure projects. Since establishing the Ashgabat branch in October 2023, he has visited the country six times to lay the groundwork for business operations.

Turkmenistan ranks fourth in the world in natural gas reserves and is currently shifting its focus from energy-centric industries to the chemical and fertilizer sectors. This project is a core part of that strategy, and it marks the first time Daewoo Engineering & Construction is participating in the country's industrial transformation process.

On the 15th, Jeong Wonju, Chairman of Daewoo Engineering & Construction, and executives attended the groundbreaking ceremony of the "Mineral Fertilizer Plant" held in Turkmenabat, Turkmenistan. Daewoo Engineering & Construction

원본보기 아이콘

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.