Japan interested in investing in int'l sea trade port of Turkmenistan
By Aynur Karimova
Japan is interested in investing in the construction of a new international sea trade port in Turkmenistan’s Turkmenbashi city.
The initiative was discussed at the recent negotiations held between the Japanese and Turkmen sides in Tokyo during the visit of a Turkmen delegation to Japan on July 15-17, the Turkmen government reported.
The Turkmenbashi port is designed to become not only one of the “sea gates” of the country, but also an important and integral part of the high-capacity regional transport infrastructure that is being created today.
Earlier, it was reported that following the international tender, Turkish Gap Insaat Company was named the general contractor for construction of the new Caspian Sea port in Turkmenbashi.
This project envisages the installation of a complex set of facilities, including terminals, shipyards, and other infrastructure facilities.
During the working visit, the Turkmen delegation also held meetings with Japanese Prime Minister Shinzo Abe and business representatives.
The meetings focused on the prospects for attracting Japanese investments in the modernization of the oil and gas industry and the diversification of supply routes for Turkmen gas, as well as cooperation in other fields.
A large package of bilateral agreements – signed during the official visit of Turkmen President Gurbanguly Berdymukhamedov to Japan in September 2013 – included a number of agreements and contracts between Turkmengaz, Turkmenhimiya, and Turkmenoil state concerns and Japan’s Sojitz, Chiyoda, Nippon, ITOCHU, JGC, Kawasaki, TOYO, Mitsui, Tsukishima, Mitsubishi, and Sumitomo.
Turkmen-Japanese cooperation is seen as an important element in the development of relations between Turkmenistan and the Asia-Pacific region as a whole. To this end, the two countries are seeking to use their geopolitical and geo-economic assets to their advantage.
Turkmenistan is considering the opportunities available for Japanese companies in joint investment projects in petrochemical, gas processing, and other industrial sectors.
Business circles in Tokyo believe that Japan's high technologies and Turkmenistan's rich natural resources are complementary.
Currently, a number of Japanese companies are working on large petrochemical projects in the Central Asian country.
A complex for producing polyethylene and polypropylene is being constructed in the Kiyanly village along the Caspian Sea coast.
The project is being implemented jointly with Japan’s TOYO Engineering and South Korea’s LG International Corporation and Hyundai Engineering Corp. Ltd.
The production capacity will be at 386,000 metric tons of polyethylene and 81,000 metric tons of polypropylene per year.
Also, in accordance with the contract signed with Turkmenhimiya state concern, Japanese Mitsubishi Corporation and Turkish Gap Insaat will carry out the construction of a carbamide production plant – with a capacity of 1.55 million metric tons per year – in the Garabogaz city in the Balkan province.
A plant for producing gasoline from natural gas is being constructed in Akhal province. This large investment project is being implemented jointly with Japan’s Kawasaki and Turkey’s Ronesans Holding.
The project will be developed jointly with investments from the Japanese side and funds from Turkmengaz. The plant is slated to be commence operations in 2018.
By focusing on a deeper and more complex processing of natural gas and increasing the export of its products, Turkmenistan will significantly expand its position not only in the market of primary energy resources such as natural gas and crude oil, but also take a worthy place in a more profitable market of petrochemical products.
--
Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova
Follow us on Twitter @AzerNewsAz