AKIPRESS.COM - Abu Dhabi Fund for Development (ADFD) has signed two agreements worth $99.91 million with the Government of Turkmenistan, Trade Arabia reported.

The first agreement includes the allocation of AED275 million towards the construction of an airport in Jebel in Balkan Region, whereas the second agreement aims to finance the development of a 10 megawatts hybrid power plant at a cost of AED92 million.

The two agreements were signed by Mohammed Saif Al Suwaidi, Director General of ADFD, and Jepbarov Rahimberdi Jepbarovich, Chairman of the State Bank for Foreign Economic Affairs of Turkmenistan. The signing ceremony also drew the participation of Suhail bin Mohammed Al Mazrouei, the UAE Minister of Energy and Infrastructure, Berdimuhamedov Serdar Gurbangulyevich, Deputy Chairman of the Cabinet of the Ministers of Turkmenistan, Garajayev Serdarmammet Saparmammedovich, Ambassador of Turkmenistan to the UAE, Khalifa Abdullah Al Qubaisi, Deputy Director General of ADFD, and several senior officials from both sides.

The airport development project in Jebel aims to improve the airport infrastructure in the Balkan region of Turkmenistan and enhance regional air connectivity in Central Asia. Additionally, it will help attract investments to the city of Jebel in particular, and Balkan region in general through improving the quality transportation services.

The project includes building Jebel airport terminal with capacity of 100 passengers per hour. The project components include planning, designing, construction and delivery of the project as well as training the airport staff.

The hybrid power station project aims to provide clean energy alternatives to meet the needs of people in Altyn Asyr. The project consists of development of hybrid power plant with 10 MW installed capacity.

In February 2021, ADFD signed three MoUs with the Government of Turkmenistan. The first MoU included the establishment of an investment company, whereas the second MoU included studying the possibility of building a chemical complex project in Turkmenistan to produce polyvinyl acetate. Under the third MoU, both sides agreed to study the possibility of financing several development projects focused on infrastructure development including renewable energy and air transport to enhance cooperation between the fund and the Government of Turkmenistan.

Over the years, ADFD has allocated a total of AED182 million towards the development of several projects in Turkmenistan. Notable projects include the establishment of a kidney disease treatment center in Ashgabat to advance the country’s healthcare sector. These projects have bolstered Turkmenistan's efforts to implement the economic and social reforms and improve the quality of healthcare services in the country. -- TradeArabia News Service