Korea’s «Daewoo Engineering & Construction» (Daewoo E&C) company will implement a project to modernize the Karakum Canal in Turkmenistan. The relevant memorandum was signed with the State Committee of Water Resources of Turkmenistan on September 15 within the framework of the Turkmen-Korean business forum in Seoul.

The document is aimed at strengthening cooperation between the parties and establishing a foundation for implementing a project to modernize approximately 250 kilometers of the lower section of the Karakum Canal. As noted in the company's press release, Daewoo E&C intends to participate in this project.

Daewoo E&C stated that the memorandum creates a basis for the company's entry into Turkmenistan’s water management and ecological infrastructure market. «We will utilize Daewoo E&C’s technological capabilities and experience in civil engineering to successfully implement this project and will continue to expand cooperation with Turkmenistan in various areas», — a company representative stated.

The parties also intend to explore opportunities for cooperation in promising projects of Turkmenistan in the field of water resources and environmental infrastructure.

Within the framework of the Turkmen-Korean business forum, Jung Won-ju, Chairman of Daewoo E&C, met with the President of Turkmenistan, Serdar Berdimuhamedow. During the meeting, the company's plans to further expand its activities in the country were presented.

The Karakum Canal plays a crucial role in providing water for agriculture, population needs, and industrial requirements of our country. In recent years, the need to modernize it has grown in order to increase the efficiency of water resource management and ensure sustainable water supply.

In May of last year, Daewoo E&C signed a contract for the construction of a mineral fertilizer plant in Turkmenistan, thus entering the country's market for the first time. The enterprise will produce 350,000 tons of phosphate fertilizers and 100,000 tons of ammonium sulfate per year and is expected to be commissioned in 2028.

The company views this project as a foundation for future participation in the construction of industrial and infrastructure facilities in Turkmenistan.