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Hyundai Engineering introduced as we speak that it has signed a memorandum of understanding (MOU) on enterprise cooperation for the “Turkmenistan Ammonia Urea Fertilizer Plant” challenge price 1.4 billion {dollars} with the Turkmenistan Federation of Industrial Entrepreneurs on the “Korea-Turkmenistan Company Convention” held on October twenty ninth.
The MOU signing ceremony held on the Lotte Lodge in Sogong-dong on this present day was attended by officers resembling Hong Hyun-seong, CEO of Hyundai Engineering, and Dovran Hudayberdyyev, president of the Federation of Turkmenistan Industrial Entrepreneurs.
Particularly, Senator Gurbanguly Berdimuhamedow, former president of Turkmenistan, additionally attended the signing ceremony, proving the Turkmenistan authorities’s excessive curiosity within the challenge.
The “Turkmenistan Ammonia Urea Fertilizer Plant” will probably be constructed within the Balkan area within the west of Turkmenistan, and after completion, it’s anticipated to vastly contribute to the rise in agricultural manufacturing and job creation in Turkmenistan by way of the annual manufacturing of 1.155 million tons of urea fertilizer and 665 thousand tons of artificial ammonia.
Began with a $1.4 billion challenge in Turkmenistan in 2009, Hyundai Engineering has carried out very massive initiatives resembling a $530 million oil refinery in 2012, a $240 million crude oil processing plant in 2014 and a $3.44 billion ethane crackers and PE/PP manufacturing facility vegetation.
“We now have efficiently accomplished numerous initiatives resembling GTL and desulfurization amenities in lots of Central Asian nations together with Turkmenistan,” stated an official from Hyundai Engineering.” By way of the profitable execution of this challenge, we are going to show our standing as a worldwide super-large plant building powerhouse.”
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