South Korean President Moon Jae-in visited a gas chemical plant at Turkmenistan Kiyanly, which was completed by Hyundai Engineering on April 18.
Turkmenistan President Gurbanguly Berdimuhamedow also accompanied the visit, and it became even more meaningful after the two leaders discussed ways to expand cooperation in the plant and petrochemical industries the previous day.
Hyundai Engineering won the main project for 3.4 trillion won in 2013, and it was completed in October last year.
The completed plant is expected to produce 400,000 tons of polyethylene and 80,000 tons of polypropylene annually, generating $600 million in annual profits.
Hyundai Engineering is also doing its best to pass on technologies related to plant operations and maintenance so that its owner, Turkmenistan National Gas Corp., can smoothly produce petrochemical products in the future.
The project is also considered a good example of win-win cooperation, as it has advanced with small and medium-sized companies and has a 70 percent foreign exchange rate.