Arzuw NEWS - Turkmenistan news

Turkmenistan implements large-scale investment projects with the Abu Dhabi Development Fund

Turkmenistan has concluded with Abu Dhabi Development Fund (UAE) at once three large-scale investment agreements. The documents were signed in the UAE capital. The signatories to these agreements were State Bank for Foreign Economic Affairs of Turkmenistan represented by Chairman Rakhimberdy Dzhepbarov and Abu Dhabi Development Fund in the person of Mohammed Saif Al Suwaidi, general director.

According to the first document - Memorandum of Understanding - The Turkmen government and the Abu Dhabi Development Fund have worked together to form an investment company with a target capital of $100 million. Implementing first phaseAs agreed, each of the parties to the agreement will contribute $8 million.

According to the second document of a similar level, joint allocation of a number of projects on the territory of Turkmenistan is planned. Thus, in Jebele of Balkan Velayat plan to line up airport complex. Its capacity is planned at the level of 100 passengers per hour. The project is estimated at $75 million. It is also planned to allocate $25 million. to implement a project in the area of renewable energy.

The third document planned to allocate several Turkmen industrial projects. The parties also agreed on the allocation of $175 million. on construction of a gas chemical complexwhich will be engaged in the production of polyvinyl acetateas well as the allocation of $18 million. to build NPK fertilizer production complex.

In the course of negotiations the participants emphasized the importance of the above mentioned projects. They will not only contribute to economic development of Turkmenistan, but also increase the level of economic development of the entire region. In addition, the strategic orientation of the Fund on the development of economic partnership and regional integration, which fully corresponds to these three investment projects, was noted, total cost which are equal to $393 million.


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