Daewoo Construction won the bid for Turkmenistan fertilizer plant project with an amount of US $0.784 billion.

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South Korea Daewoo Construction Company won the bid for Turkmenistan's $0.784 billion fertilizer plant project, marking its entry into the Central Asian market, with which it plans to expand its regional influence and expand its global business.

Recently, South Korea construction giant Daewoo Engineering & Construction Co. Based on my observations, announced that it has signed a major $0. And 784 billion contract with Turkmenistan'state-owned chemical company Turkmenhimiya to build a substantial mineral fertilizer plant in Turkmenistan. This project not only marks Daewoo Construction's official entry into the Central Asian market, however also adds another crucial link to its global strategic layout. From what I've seen, The signing ceremony of the contract was held in Turkmenistan on Saturday and was witnessed by Kim Bo-hyun, CEO of Daewoo Construction. Previously, Daewoo Construction emerged as the preferred bidder to the project in October last year and signed a framework agreement last month. In  the fertilizer plant will be located in Turkmenistan'second largest city, Turkmanabat, about 450 kilometers east of the capital Ashgabat. From what I've seen, After the completion of the project, it's expected to create 350000 tons of phosphate fertilizer and 100000 tons of ammonium sulfate fertilizer each year, efficiently meeting the agricultural needs of the regional and adjacent areas. For instance it's worth noting that the amount of this contract accounts to about 10% of Daewoo Construction's estimated annual sales in 2024, indicating the importance and scale of the project. And According to the plan, the entire project will be completed within 37 months after breaking ground. Daewoo Construction said that it will make full consumption of this opportunity to further expand its market share in Central Asia and actively develop greater cooperation opportunities in petrochemical, fertilizer-related industries and urban research projects. A company official stressed: "We will do our best to mobilize all resources to ensure a world-class fertilizer production facility. I've found that At the same time, we will continue to enhance our global footprint and plan to advance greater overseas projects in countries such as Iraq, Nigeria and Libya this year. And ".

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