The President of Turkmenistan receive the Director of Hyundai Engineering Co Ltd.

President Gurbanguly Berdimuhamedov received President, Executive Director of Hyundai Engineering Co Ltd. (the Republic of Korea) Sung Sang Rok.

Having expressed the gratitude for the opportunity to discuss important objectives of cooperation in private conversation, the guest highlighted that large-scale changes and perspectives of economic growth in Turkmenistan have gained high international authority, trust and reputation of reliable, stable and responsible partner. Turkmen nation lives in peace and prosperity steadily continuing the course of progressive development under your leadership, which raises sincere delight, the businessman said.

The President noted that while realizing the state programmes aimed at modernization and diversification, improvement of competiveness of national economy, Turkmenistan seeks for long-term, beneficial and fruitful cooperation with the representatives of foreign business circles including Korean companies, which have big experience in implementation of advanced technologies in different spheres.

Highly appreciating the perspectives of cooperation with Hyundai Engineering, which takes an active part in realization of big investment projects in Turkmen fuel and energy complex, President Gurbanguly Berdimuhamedov stated with delight constructive characters and focus of the cooperation to specific result.

It was highlighted that being one of the leading world countries by the reserves of natural gas, our state attracts foreign partners not only by its great potential in energy sphere but also by the orientation of national economy to creation of new high technology production facilities, which opens wide opportunities for expansion of technical cooperation with foreign business communities.

Having highlighted that Hyundai Engineering is one of reliable partners of Turkmenistan, which took part in the realization of the project of construction of gas desulphurization plant at the biggest deposit Galkynysh, modernization of Turkmenbashy Refinery Complex, the Head of the State noted efficient and beneficial work in this direction.

During the meeting, the sides exchanged the opinions on current partnership as well as on joint projects. In particular, Sung Sang-Rok informed the Head of the State about the completion of construction of polymeric plant in Balkan Velayat. This facility was built by the consortium of the companies including Hyundai Engineering and designed for annual production of 386,000 tons of high density polyethylene and 81,000 tons of polypropylene, which would made based on advanced and environmentally friendly technologies. We are proud that the project completed with our participation would improve the status of Turkmenistan on the world market of oil and gas industry, the head of the Company said.

During the conversation, the sides noted the presence of huge capabilities for improvement of business cooperation, which priority direction is to implement innovations, to realize joint projects in industrial processing of natural resources and to diversify industrial sector of Turkmen economy.

In this regard, the Head of Hyundai Engineering said about the willingness to present new beneficial proposals to Turkmen side, which includes the investment projects in processing of fuel and energy products with the particiaptiion of Korean and other companies for consolidation of fruitful cooperation.

In the end of the meeting, President Gurbanguly Berdimuhamedov and the Head of Hyundai Engineering expressed the confidence in successful cooperation in future.

Source: Turkmenistan State News Agency-TDH