A memorandum on modernizing the Karakum River was signed Sept. 15 in Seoul between the State Committee for Water Management of Turkmenistan and South Korean company Daewoo Engineering & Construction on the sidelines of the Turkmen-Korean Business Forum, Turkmen state media reported.

Under the memorandum, water management facilities along the 850- to 1,100-kilometer section of the Karakum River are planned to be modernized, while new facilities will also be built. The sides also plan to develop joint work in water management and infrastructure.

In a speech at the high-level session of the Turkmen-Korean Business Forum, President Serdar Berdimuhamedov said several South Korean companies, including Daewoo Engineering & Construction, are implementing investment projects in Turkmenistan. Turkmen President talks are underway on future projects and that their implementation is expected to begin soon.

Daewoo Engineering & Construction opened its branch in Ashgabat in 2023 and is involved in several projects in Turkmenistan in cooperation with the state concern Turkmenhimiya. As part of this cooperation, the company is working on the construction of facilities in various regions to produce ammonia, urea and phosphate fertilizers by processing natural gas.