A significant collaboration is underway between Turkmenistan and South Korea in the shipbuilding sector. The Balkan Shipbuilding and Repair Plant, located within the Turkmenbashi International Seaport, is working in tandem with the South Korean company “Koryo Shipbuilding Industry Technology Co. LLC” (KSIT) to design and construct two dry cargo vessels, each boasting a capacity of 6,100 tons.
This joint venture marks a pivotal moment for Turkmenistan, laying the groundwork for the development of a domestic shipbuilding industry. It also signifies a strategic alliance with a global leader in the field. According to Clarksons Research, a prominent provider of analysis, forecasts and insights for shipping, South Korea accounted for 26% of world shipyard output on a compensated gross tonnage (CGT) basis in 2023.
Korean Ambassador Visits Balkan Shipyard
Last week, the Korean Ambassador to Turkmenistan, Ji Kyu Taek, and Embassy representatives toured the Balkan shipbuilding and ship repair plant. They witnessed firsthand the construction of bulk carriers, a project undertaken in partnership with KSIT.
During the visit, the guests explored the plant’s facilities and capabilities. Plant representatives discussed ongoing collaborations with KSIT, highlighting the modern shipbuilding equipment and machinery installed at the Balkan shipyard.
The parties stressed their readiness to further deepen the current cooperation.
Turkmen-Korean seminar
Within the framework of this visit, a joint Turkmen-Korean seminar on cooperation in shipbuilding was held in the National Tourist Zone “Avaza”.
The meeting was attended by representatives of the Agency for Maritime and River Transport of Turkmenistan “Turkmendenizderyayollary”, representatives of the Korean Embassy, heads of the Korean Association of Marine Equipment (KOMEA), as well as representatives of the Koryo Shipbuilding Industry Technology Co., Ltd. (KSIT).
During the meeting, it was noted that Turkmen-Korean bilateral relations are developing successfully, and confidence was expressed in coordinating joint efforts with the Republic of Korea in the implementation of projects. A separate presentation was devoted to the joint achievements between the Balkan shipyard and KSIT.
Following the meeting, it was confirmed that the parties are ready to make further joint efforts to bring Turkmen-Korean relations to a qualitatively new level.
KOMEA pledges to do everything possible for Turkmenistan to become a shipbuilding superpower
Nam Yong Kang, Head of the representative office in Russia and the CIS of the Korean Marine Equipment Association (KOMEA), speaking at the TIF 2024, praised Turkmenistan’s strategic efforts to develop its own shipbuilding industry.
“The importance of the Caspian Sea as a logistics corridor has increased significantly due to global geopolitical changes. Turkmenistan is preparing to become a locomotive in the field of shipbuilding and logistics in the region and the world. The Government of Turkmenistan anticipated the upcoming trends and directed investments to the development of the shipbuilding sector, and already in Turkmenbashi, employees of the Balkan shipbuilding and ship repair plant and Korean specialists are working together on the construction of modern multipurpose bulk carriers. We are investing 120% of our enthusiasm day and night to ensure the completion of the construction of two bulk carriers in December next year, ready to navigate the Caspian Sea,” he said.
Speaking about the most promising projects for the future, Nam Yong Kang said that key tasks ahead include the construction of an additional dry cargo ship, the Ro-Pax ferry to ensure the transportation of railway wagons and the construction of a dredger for the Karakum river.
According to the representative of KOMEA, new areas have emerged that require investment, for example, the digitalization of the production facilities of the Balkan plant to increase productivity, the creation of a hub for the supply of marine equipment and consumables for domestic needs and for export to the Caspian and CIS countries. He called on the investors who attended TIF2024 to provide support for these projects.
“For its part, KOMEA promises to do everything possible to ensure not only direct investments from Korean companies, but investments in shipbuilding technologies for the design and construction of environmentally friendly vessels, so that Turkmenistan becomes a shipbuilding superpower,” Nam Yong Kang assured.
Balkan Plant and KOMEA seal partnership with memorandum
On 11 September 2024, within the framework of the investment forum of Turkmenistan, the Balkan Plant and KOMEA signed a Memorandum of Understanding and cooperation.
The signing of this Memorandum will contribute to the expansion of cooperation between Turkmenistan and the Republic of Korea in the field of shipbuilding, the introduction of advanced Korean technologies in the shipbuilding sector, training specialists in accordance with international requirements, and will also increase the construction of various types of vessels at the Balkan plant for the national merchant fleet of Turkmenistan. ///nCa, 16 September 2024