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  4. Toyo Engineering signs MoU with State Concern Turkmenhimiya

Toyo Engineering signs MoU with State Concern Turkmenhimiya

 

Published by
 Hydrocarbon Engineering,

Toyo Engineering Corp. has signed a Memorandum of Understanding (MoU) with the State Concern Turkmenhimiya which oversees the production and sales of chemicals in Turkmenistan. This agreement is aimed at fostering collaboration between TOYO and Turkmenhimiya to realise future projects utilising the country’s natural gas resources.

In line with the growing geopolitical importance of Central Asia which is rich in mineral resources, the Japanese government has shown strong interest in supporting Japanese companies in expanding their business operations in the region. The Central Asia Business Forum, held in Astana, Kazakhstan, on 9 August 2024, provided a key opportunity for TOYO to conclude the Memorandum with Turkmenhimiya. The forum was attended by representatives of the Japanese government and numerous Japanese companies.

TOYO has a proven track record in Turkmenistan, having signed a contract in 2014 and successfully completed the construction of gas processing, ethylene, and polypropylene plants. TOYO remains committed to contributing to Turkmenistan's development through the realisation of new projects and the expansion of the country's chemical industry.