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South Korea's Daewoo Engineering & Construction has begun constructing a USD 780 million fertilizer plant in Turkmenabat, Turkmenistan, as the country seeks to diversify its economy beyond natural gas exports. The facility will produce 350,000 metric tons of phosphate fertilizers and 100,000 metric tons of ammonium sulfate each year. President Serdar Berdymukhamedov attended the groundbreaking ceremony, reflecting the project's national significance. Scheduled to be completed within three years, the plant highlights Turkmenistan's push for industrial growth, higher-value production, and greater export potential, marking a notable step in reducing reliance on natural gas revenues.
South Korea's Daewoo Engineering & Construction has officially started building a large mineral fertilizer plant in Turkmenistan, with the project valued at around USD 780 million, according to a government official involved in the negotiations. The development aligns with Turkmenistan's strategy to diversify its economy and move beyond relying mainly on natural gas exports, which are primarily directed to China. Advertisement
President Serdar Berdymukhamedov attended the groundbreaking ceremony, which was reported by local media, underlining the project's importance to the country's industrial plans. The plant will be located in Turkmenabat, Turkmenistan's second-largest city, approximately 450 kilometres east of the capital, Ashgabat.
The facility is designed to produce 350,000 metric tons of phosphate fertilizers and 100,000 metric tons of ammonium sulfate annually. Construction is expected to be completed within three years. Turkmenistan, although rich in gas reserves, has historically been politically isolated, which limited industrial diversification. The new plant represents a significant step toward increasing domestic production of higher-value goods and strengthening the country's manufacturing sector.
Daewoo E&C has not provided immediate comments on the project. Experts note that this facility could play a crucial role in regional fertilizer supply, and also position Turkmenistan to gradually reduce its economic dependence on raw gas exports. The project is seen as a long-term investment in industrial infrastructure, with potential benefits for employment, local industry, and export opportunities in Central Asia.
Source Reuters
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