Daewoo E&C is planning to open a branch in Turkmenistan between September and October of this year, BusinessKorea magazine reported, citing the President of Daewoo E&C, Baek Jeong-wan, on Thursday.
According to Jeong-wan, the opening of a new branch will allow the company to have a closer relationship with the Turkmen government and cooperate more quickly on projects.
On July 17, Daewoo E&C headquarters in Seoul hosted a meeting with the economic delegation from Turkmenistan, which included the head of the Foreign Economic Bank, Rahymberdi Jepbarov, the chairman of Türkmenhimiýa (Turkmen Chemicals) State Concern, Dovrangeldi Sapbayev, and the Deputy Chairman of the Cabinet of Ministers, Baymyrat Annamammedov.
During the meeting, Chairman Jung Won-ju of Daewoo E&C said, “It feels fresh to meet again in Korea only two months after my first visit to Turkmenistan in May. I am grateful for the generous support for Daewoo E&C, and all our employees are doing their best to ensure that the two fertilizer plant projects that Daewoo is actively promoting can be successfully contracted for engineering, procurement, and construction.”
South Korea also looks 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.