Turkmenistan and Russia are exploring joint projects in metallurgy and industry, with companies from both countries working on plans to establish full-cycle production of ferrous metals. Russian First Deputy Prime Minister Denis Manturov announced the initiative during a plenary session of the Innoprom: Central Asia international industrial exhibition, TASS reported Monday.
Manturov said businesses from the two countries are developing production chains covering all stages of ferrous metal output, while also expanding cooperation in automotive manufacturing and the production of equipment for the oil and gas sector.
Ferrous metals are iron-based materials, including steel and cast iron, widely used in construction, engineering and energy. A full production cycle involves processing raw materials, from iron ore extraction to the manufacturing of finished products.
Earlier, Russian President Vladimir Putin said Russian companies are interested in launching new investment projects in the Turkmen market.
