SEOUL, South Korea – Baymyrat Annamammedov, Turkmenistan's Deputy Prime Minister overseeing the energy sector, conveyed optimism for potential collaborations and new projects in the fields of energy and infrastructure with South Korean firms, According to Yonhap News Agency, Seoul's foreign ministry on Wednesday.
Annamammedov met with South Korean Foreign Minister Park Jin during the latter’s visit to Central Asia for the South Korea-Central Asia forum, with the meeting initiated at the request of the Turkmen side. During their discussions, Park sought Turkmenistan's backing for sectors that South Korean industries are eager to invest in, including fertilizer plants, natural gas liquefaction, and desulfurization. Presently, South Korean companies are vying for two projects to construct fertilizer factories—one in the Balkan region and another in the city of Turkmenabat—accumulating to a combined value of US$2.5 billion. Notably, in November, Hyundai Engineering Co., a South Korean firm, signed a memorandum of understanding with Turkmenistan for an ammonia and urea fertilizer plant project in the Balkan region.