POSCO Engineering (CEO Park Jung-hwan) signed an agreement with Turkmenistan’s local construction company, Chakmak Dashy for the construction of Mary Filtration Plant, worth 100 million USD (116 billion KRW). Held in Mary City in Turkmenistan, the signing ceremony was attended by interested parties including Ovezguly, CEO of Chakmak Dashy, Park Jung-hwan, CEO of POSCO Engineering and Yoo Duk-sang, Vice President of Daewoo International.
Hosted by the Mary state government of Turkmenistan, the Mary Filtration Plant construction project is set to demolish the existing filtration plant and construct a new filtration plant of 120,000 m3 and a water intake station of 240,000 m3. For construction of the new filtration plant, POSCO Engineering will use the EPCm (Engineering, Procurement & Construction management) method which handles processes from drawing, to procurement and construction as one package. Daewoo International will add support by supplying materials and equipment through its global networks.
With this partnership, POSCO Engineering has established a foothold for entering into the global water environment industry, which is expected to be valued at 865 billion USD (about 950 trillion KRW) by 2025. This was the result of POSCO’s continuous efforts to solidify its position as a global EPC company through constant securement of contracts in chemical, infra and industrial plant areas, as well as to accumulate its business know-how and technical capabilities in the local water environment area, such as water supply and drainage system and water treatment. Park Jung-hwan, CEO of POSCO Engineering said, “This agreement is especially meaningful since it’s our first business in Turkmenistan where rapid industrial structure acceleration is in process based on its abundant natural resources. This agreement will serve as a foundation to obtain additional contracts for constructing filtration plant, wastewater disposal and desalination system, and to enter into CIS countries.”
Ovezguly, CEO of Chakmak Dashy, Park Jung-hwan, CEO of POSCO Engineering and Yoo Duk-sang, Vice President of Daewoo International