Breaking News

Daewoo E&C Eyes

Daewoo E&C Eyes Major Projects in Turkmenistan Following State Visit by South Korean President

Ashgabat, June 13, 2024, The Europe Today: During the recent state visit of President Yoon Seok-yeol of the Republic of Korea to Turkmenistan, Jung Won-ju, Chairman of Daewoo Engineering & Construction (Daewoo E&C), held significant meetings with Turkmen officials, signaling a deepening of business ties between the two nations.

Jung Won-ju, as part of a business delegation, engaged in high-level negotiations with Deputy Prime Minister Batyr Amanov and the heads of major state concerns, including Turkmengaz, Turkmennebit, and Turkmenhimiya. During these discussions, the Daewoo E&C Chairman praised the favorable investment climate in Turkmenistan and expressed keen interest in expanding cooperation.

Daewoo E&C announced its intention to participate in tenders for constructing two large mineral fertilizer plants in the cities of Kiyanly and Turkmenabat. Additionally, the company is eyeing involvement in the second phase of the “smart” city project in Arkadag, highlighting its commitment to contributing to Turkmenistan’s infrastructural and industrial development.

It is noteworthy that in November last year, Daewoo E&C established a branch in Ashgabat to better serve the rapidly growing Turkmen market. This move underscores the company’s strategic focus on enhancing its operational efficiency and market presence in Central Asia.

“Turkmenistan has enormous potential for business in various sectors, including the development of new cities, industrial facilities, and infrastructure, thanks to its rich natural resources,” emphasized Jung Won-ju. “We are committed to strengthening our position in the Central Asian market by furthering friendly relations between our countries after this historic state visit.”

The meetings and proposed projects reflect the robust economic ties between South Korea and Turkmenistan, setting the stage for significant future collaborations. Daewoo E&C’s planned ventures in Turkmenistan not only aim to capitalize on the country’s vast natural resources but also to support its ambitious urban and industrial development goals.