Turkmenistan to construct its largest chemical plant
By Aynur Jafarova
Japanese Mitsubishi Corporation and Turkish GAP İnşaat Yatırım ve Dış Ticaret A.Ş. will construct a large chemical plant in Garabogaz on Turkmenistan's Caspian coast.
The relevant agreement was signed with the Turkmen government, Mitsubishi Corporation said.
The project will be implemented in collaboration with Mitsubishi Heavy Industries, Ltd. for meeting Turkmenistan's chemistry needs.
This will be the largest enterprise of this kind in Turkmenistan. The estimated cost of the contract is $1.3 billion.
The complex will produce up to 2,000 tons of ammonia and 3.5 tons of Carbamide per year.
Japanese media reported that the construction of the new chemical plant will begin in the first half of 2015 and will be put into operation in June 2018.
Turkmenistan's chemical industry is one of the fastest growing sectors of its national economy that has enormous resource capacity. The country intends to develop a national chemical industry, which will be strategically important for Turkmen national economy.
Turkmenistan's resource capabilities also make it possible to produce all kinds of fertilizers in volumes that fully meet domestic needs. The presence of vast gas reserves in Turkmenistan facilitates the construction of new facilities for producing nitrogen fertilizers, particularly carbamide. This valuable natural resource is the main raw material in the manufacturing process.
Turkmenistan is considering the opportunities available for Japanese companies in joint investment projects in petrochemical, gas processing, electro-technical, and other sectors of the industry.
Japan's high technologies and Turkmenistan's rich natural resources are complementary, business circles in Tokyo believe.