On Wednesday, South Korea’s top industry official asked for Turkmenistan’s assistance in helping Korean companies win major plant construction projects in the Central Asian nation, according to the Ministry of Trade, Industry and Energy.
Minister Lee Chang-yang made the request during a meeting with Baymyrat Annamammedov, Turkmenistan’s deputy prime minister for construction, industry and electric power, in Seoul.
Two projects to build fertilizer factories, worth a total of US$2.5 billion, are currently being pursued by South Korean companies. In November, Hyundai Engineering Co. signed a memorandum of understanding with Turkmenistan for an ammonia and urea fertilizer plant project in the Balkan region.
Minister Lee proposed further cooperation between the two countries, citing the successful completion of a gas chemical complex in Kiyanly in 2018. He also asked for Turkmenistan’s support for South Korea’s bid to host the 2030 World Expo in Busan.
Turkmenistan has vast gas reserves and a high demand for plant construction.