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Daewoo Engineering and Development (E&C) is selling the development of a phosphate fertilizer plant and a urea/ammonia fertilizer plant in Turkmenistan, a Central Asian nation mendacity between Uzbekistan and Iran.
The corporate introduced on Nov. 29 that it has signed a memorandum of understanding (MOU) on two fertilizer plant initiatives in Turkmenistan. The Turkmenabat phosphate fertilizer plant undertaking includes constructing phosphate fertilizer manufacturing services and auxiliary services with an annual capability of 300,000 tons.
The Balkan urea ammonia fertilizer plant is a facility to supply 1.15 million tons of urea fertilizer and 660,000 tons of artificial ammonia yearly. Daewoo E&C is planning to conduct on-site due diligence and extra consultations earlier than signing a closing contract.
“We’re looking for to enter Turkmenistan by signing an MOU on the fertilizer vegetation,” Daewoo E&C CEO Baek Jeong-wan mentioned in a Korea-Turkmenistan enterprise assembly, which was attended by Turkmenistan authorities officers together with Gurbanguly Berdimuhamedow, chairman of the Folks’s Council, the higher chamber of the Turkmen parliament. “Based mostly on our in depth observe data, we hope to develop our participation in all fields together with vegetation, energy technology and housing development in Turkmenistan.”
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