The Chemical Plant named after S.A. Niyazov in Turkmenistan’s eastern velayat of Lebap will build a new workshop for production of compound fertilizers with the annual capacity of 170 thousand tons. The project will be financed with the loans from the Abu Dhabi Fund for Development (ADFD).
Deputy Chairman of Turkmen Government Chary Purchekov, overseeing the industrial and construction complex, briefed on the project to President Gurbanguly Berdimuhamedov during the online cabinet meeting on Tuesday, the country’s official media reports.
The Vice-Premier said the compound fertilizers, which include nitrogen, phosphorus and potassium in various ratios, are widely used in global agricultural sector.
He highlighted the economic viability of the production of compound fertilizers considering the existing productions of enterprises of the Türkmenhimiýa (Turkmen Chemicals) State Concern.
Following the report, the Turkmen President signed the Resolution on financing of construction of the complex for production of compound fertilizers at Turkmenabat Chemical Plant. The document was prepared in accordance with the Loan Agreement between the Government of Turkmenistan and the ADFD, signed during the working visit of the Turkmen Leader to the UAE on October 9 this year.
State Bank for Foreign Economic Activity of Turkmenistan and the Türkmenhimiýa will sign internal credit agreement for the financing of the project.
Built in 1960, Turkmenabat Chemical Plant is presently one of the largest chemicals production facility in Turkmenistan. The plant includes 26 production workshops.