Daewoo Engineering & Construction Signs MOU on Turkmenistan’s Karakum Canal Modernization Project

[Financial News] Daewoo Engineering & Construction said on the 16th that it had signed a memorandum of understanding (MOU) with the Turkmenistan Water Resources Committee to cooperate on the modernization of the Karakum Canal.
The agreement was signed to establish a foundation for advancing the modernization of an approximately 250 km section in the lower reaches of the Karakum Canal, a project in which Daewoo Engineering & Construction is considering participating. The two sides also plan to explore opportunities to cooperate on promising water resources and environmental projects in Turkmenistan.
According to the company, the Karakum Canal begins at the Amu Darya River in the north and runs across Turkmenistan from east to west. It is the world’s largest irrigation and water-supply canal, measuring 25–30 m in width and approximately 1,100 km in length. Since its completion in the 1960s, it has played an important role in supplying agricultural, household and industrial water. The need to modernize the canal for more efficient water resources management and a stable water supply has recently grown.
Daewoo Engineering & Construction first entered the Turkmenistan market in May last year by winning a contract for a Turkmen mineral fertilizer plant. A company representative said, "This MOU is highly significant because it establishes a foundation for entering Turkmenistan’s water resources and environmental infrastructure construction market."


[email protected] Lee Jong-bae Reporter