Turkmenistan to develop metallurgical industry

The Cabinet of Ministers of Turkmenistan took a decision to establish joint-stock company Turkmendemir as a part of the state project to develop metallurgical industry in the country. The new company will produce steel products to satisfy needs of the country, especially that in rebar, which is currently imported to Turkmenistan in big volumes. In accordance with the Presidential decree, the Cabinet of Ministers of Turkmenistan, the Ministry of Energy and Industry of Turkmenistan are the main stockholders of the new company, holding 51 percent and 49 percent of stocks respectively. Turkmendemir will be managed by Ministry of Energy and Industry of Turkmenistan.