ASHGABAT, Turkmenistan, April 29. China’s Shaanxi Yulin Energy Group has proposed establishing a production facility for magnesium alloys in Turkmenistan as part of plans to expand industrial cooperation, Trend reports.
The statement was made by the company's Chairman Gao Xijun said at the Turkmenistan-China business forum, held on April 29 in Ashgabat.
The company expressed its intention to develop strategic partnerships with Turkmenistan’s relevant institutions and create joint cooperation platforms focused on resource processing and industrial development.
According to Gao, the initiative is aimed at combining Turkmenistan’s resource potential with the company’s technological capabilities to support the development of new production capacities and strengthen long-term economic cooperation between the two countries.
Meanwhile, He Zhenwei, President of the China Overseas Development Association (CODA), said that launching initiatives that enable a shift from raw material exports to advanced gas processing and the production of high-value-added products in the gas chemistry sector is identified by Chinese investors as one of three priority areas of bilateral cooperation between Beijing and Ashgabat, alongside with agriculture and green energy. He also made the remark during Turkmen-Chinese Trade and Economic Forum, on April 29.