9 Oct 2017 16:18

Turkmenistan's president outlines main areas of investment policy in next 7 yrs

ASHGABAT. Oct 9 (Interfax) - President Gurbanguly Berdimuhamedov of Turkmenistan outlined the main areas of investment policy and growth for industry in Turkmenistan in the period 2018-2024 at a session of the Council of the Elders on Monday, according to reports by state-owned media.

Output in the power industry should rise 27.2% to 33 billion kilowatts per hour by 2024 compared with 2018.

Construction of petrochemical complex for production of polypropylene, polyvinylchloride, caustic soda, sulphuric acid and liquefied chlorine is planned in the Kiyanly settlement of the Balkan Velayat (Region).

A carbamide plant with annual capacity of 1.155 million tonnes should be commissioned in the city of Garabogaz, Balkan Velayat, and will be the country's largest enterprise for carbamide production.

Increase of iodine and bromine production as well as other products based on iodine and bromine water processing is planned in Balkan Velayat. As the result, the production of technical iodine will increase 2.3-fold over the seven years and in 2024, exports of this product will exceed 1,000 tonnes.

Turkmenbashy International Seaport, one of the country's centers of transport infrastructure, will be established under the program.

The construction of a complex for production of 300,000 tonnes of ammonium nitrate and 450,000 tonnes of carbamide per annum will begin in Mary in 2022. The construction of this facility is to be completed in 2026.

Turkmenistan plans to commission an enterprise for production of 300,000 tonnes of concentrated phosphate fertilizers on the territory of the Turkmenabat Chemical Plant in 2021. This project is aimed at provision of domestic agriculture with this type of fertilizer.

Compared with 2018, the volume of mineral fertilizers produced in the country in 2024 will increase 1.6-fold to 3.825 million tonnes, with 74.5% of this being exported.

Turkmenistan plans to build two modern airports with throughput capacity of 100 passengers per hour each in Atamyrat, Lebap Velayat and in Garabogaz, Balkan Velayat, in 2019-2021.

The country will invest 1.3 billion manat in its space program in 2018-2024, with plans to make and launch another satellite.

Turkmenistan will invest considerably in health care and introduction of modern technologies. Measures for expansion of sport infrastructure will also to be taken.

The average wage should increase 10% annually in 2018-2024.