In August 2024, TOYO signed a memorandum of understanding (MoU) with TH to investigate the possibility of collaboration on future investment projects, primarily focused on gas-processing developments. This newly awarded project marks the first initiative under the agreement.
Following continuous discussions with TH, TOYO and its consortium partner RET have secured the contract. TOYO will be responsible for the detailed planning, engineering, and partial procurement of equipment and materials for the gas separation unit, ethylene production unit, and polypropylene production unit. RET will oversee the major overhaul of the high-density polyethylene production unit and the utility unit. TH is also planning to award TOYO with RET for the next phase of the project in order to reliably start up the production.
TOYO aims to contribute to the development of Turkmenistan’s chemical industry by leveraging its extensive experience and expertise in gas chemical and fertilizer plant construction for future projects in the country.