On 18 April, Daewoo Engineering & Construction announced the signing of a framework agreement with the State Chemical Corporation of Turkmenistan for a mineral fertilizer plant construction project in Turkmenabad.
This agreement was signed during the visit of Baymyrat Annamammedov, Turkmenistan’s Deputy Prime Minister for Construction and Industry, to South Korea. The development represents a significant step forward for Daewoo Engineering & Construction toward the conclusion of the main contract for the Turkmenabat Mineral Fertilizer Plant project, for which the company was awarded the tender in October last year.
The agreement was inked by Daewoo CEO Kim Bo-hyun and Dovrangeldi Sapbayev, Chairman of Turkmenhimiya State Concern.. The event was also attended by South Korea’s Minister of Trade, Industry, and Energy, Ahn Deok-geun, and Deputy Prime Minister Baymyrat Annamammedov.
The project provided for construction of the plant with a capacity to produce 350,000 tons of phosphate fertilizer and 100,000 tons of ammonium sulfate annually, along with auxiliary facilities.
On the eve the signing, on 17 April, Deputy Prime Minister Annamammedov and the visiting Turkmen delegation toured key Daewoo projects, including the Ulsan North Port Terminal and the Geoga Bridge. These visits highlighted Daewoo’s advanced construction technology and expertise in challenging infrastructure projects, such as petrochemical plants and underwater tunnels.
Turkmenistan is expected to pursue new projects in various fields, including petrochemicals, infrastructure, and urban development. In its effort to expand in Turkmenistan, Daewoo’s Chairman, Jeong Won-ju, has been visiting the region annually. Additionally, in late 2023, the company established a local branch office as a strategic foothold for localization.
A representative of Daewoo Engineering & Construction stated, “Turkmenistan is a key strategic hub for the Central Asian construction market and one of the most important locations we are targeting. Expanding overseas operations is essential for sustainable growth, and we are committed to exploring new markets and diversifying our business in key regions.” ///nCa, 21 April 2025