Arzuw NEWS - Turkmenistan news

Turkmenistan and Russia Discussed Prospects for Shipbuilding Projects

The first meeting of the joint working group of Turkmenistan and Russia was held, during which the prospects of projects in the shipbuilding industry were discussed. The event was organized in video format.

The main topic of the negotiations was the discussion of the organization and peculiarities of investing into the project concerning the construction of 2 dry-cargo ships of "Finval" type. Also touched upon legal aspects and possibilities of joint implementation of the project on construction of these multifunctional vessels. Possibilities of further cooperation between the enterprises of Turkmenistan and the Russian Federation in the format of industrial partnership in shipbuilding and repair of marine equipment were also considered.

The result of the online talks was an agreement with the Russian side to assist in setting up a full cycle of construction of ships of various types, including the training of qualified personnel. The Russian partners also expressed their desire to transfer to the Turkmen side the knowledge and technology accumulated in this industry.

As Russian trade representative in Turkmenistan A.Yelizarov noted, 2021 may well become the year of start of comprehensive development of the shipbuilding segment for Turkmenistan. Industrial cooperation between shipbuilders of Turkmenistan and Russia is one of the important vectors of the partnership between the two countries. According to him, Turkmenistan is forming a new industry for the state. It is "Balkan" shipyard in Turkmenistan, the most modern shipyard in the Caspian Sea, that will become the starting point for building a modern merchant fleet in the region. In particular, the enterprise is planned to launch 12 ships by 2025.

That is why a Memorandum of Cooperation was signed between Balkan Shipyard and United Shipbuilding Corporation JSC in December 2020. It will contribute to the development of industrial cooperation aimed at the implementation of projects in the shipbuilding industry.


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