[ad_1]
Hyundai Engineering has signed a memorandum of understanding (MOU) with the Federation of Turkmenistan Industrial Entrepreneurs for a US$1.4 billion ammonia urea fertilizer plant venture.
A signing ceremony was held at a Korea-Turkmenistan enterprise assembly held on Nov. 29 on the Lotte Lodge in Seoul with the attendance of Hong Hyun-seong, CEO of Hyundai Engineering, and Dovran Hudayberdyyev, president of the Federation of Turkmenistan Industrial Entrepreneurs.
The ammonia urea fertilizer plant can be constructed within the Balkan area within the west of Turkmenistan. When accomplished, the plant will produce 1,155,000 tons of urea fertilizers and 665,000 tons of artificial ammonia yearly, tremendously contributing to bettering agricultural manufacturing and job creation in Turkmenistan.
In the meantime, Hyundai Engineering began with a US$1.4 billion Galkynysh fuel desulfurization facility venture in Turkmenistan in 2009, adopted by a US$530 million Turkmenbashi oil refinery in 2012 and the US$240 million Kiyanli venture in 2014. It has carried out quite a few mega tasks, together with a US$240 million crude oil processing plant and an ethane cracker and a PE/PP manufacturing plant, each of which price US$3.44 billion.
[ad_2]
Source link
