South Korea's industry minister Lee Chang-yang asked Turkmenistan for its support for South Korean companies to participate in the construction of two fertilizer plant projects in Balkan and Lebap provinces, the commodity price assessment agency Argus Media reported on Wednesday.
South Korea is looking to build a phosphate fertilizer plant in Turkmenabat city in the eastern Lebap province and a urea, an ammonia fertilizer -producing plant in the Balkan province.
The two fertilizer projects have a combined value of around $2.5 billion (₩3.16 trillion).
According to the Turkmen embassy in Seoul, on July 17, a Turkmen delegation headed by the Deputy Chairman of the Cabinet of Ministers, Baymyrat Annamammedov, visited South Korea. During the visit, the DPM Annamammedov also met with South Korean Prime Minister Han Duck-soo to discuss trade and economic cooperation between the two countries.