Toyo Engineering Corporation (President and CEO: Eiji Hosoi, TOYO), in collaboration with Rönesans Endüstri Tesisleri (RET) - a group company of Rönesans Holding, a leading global contracting and investment group headquartered in the Republic of Türkiye - has signed a Memorandum of Understanding(MOU) with Turkmenhimiya (TH), a state-owned enterprise responsible for the production and distribution of chemical products, which is the main component of the chemical industry of Turkmenistan. The MOU covers cooperation on the Second Phase of the Major Overhaul, including works to reliably start up the production of polymers of THʼs ongoing large-scale gas chemical complex project.
In light of the growing geopolitical importance of resource-rich Central Asia, the Government of Japan has announced its policy to strengthen cooperation with the region. Accordingly, the “Central Asia + Japan” Business Forum was held in Tokyo on December 20, with participation of the Japanese government, numerous Japanese companies, and the governments and enterprises of the five Central Asian countries. On December 19, the MOU was signed during the meeting between the President of Turkmenistan and representatives of the business community of Japan. On December 20, the MOU was presented on the sidelines of the “Central Asia + Japan” Business Forum, in the presence of Prime Minister Sanae Takaichi, President of Turkmenistan Serdar Berdimuhamedov and the leaders of the Central Asian countries.
TOYO has a proven track record in Turkmenistan, having received and completed a project for the construction of gas processing, ethylene, and polypropylene plants in 2018. In 2025, TOYO was awarded for implementation of the first phase of works to reliably start-up the production of the Kiyanly Polymer Plant through major overhaul of its production units in a consortium with RET.
RET has successfully implemented several strategic projects in Turkmenistan, including the Mary Ammonia-Urea Plant, the Turkmenabat Sulfuric Acid Plant, the worldʼs first Gas-to-Gasoline (GTG) Plant in Ahal, and a 432 MW Gas Turbine Power Plant in Lebap Province.
Based on this, TOYO is currently engaged in detailed planning, engineering, and partial procurement of equipment and materials. The newly signed MOU sets forth the framework for cooperation between TH, TOYO and RET in the Second Phase of the plantʼs major overhaul works.
Building on this agreement, TOYO will leverage its extensive experience and expertise in gas chemical and fertilizer plant construction to contribute to the development of Turkmenistan through cooperation in expanding its gas chemical industries across the country. TOYO will continue to accelerate its business development in Central Asia and strive to enhance its global competitiveness.
=== Please refer to the link below ===
About Rönesans Group
Rönesans Holding, the conglomerate's leading investment entity headquartered in Ankara, is the 50th largest international contracting company globally and one of the largest in Europe. With operations spanning 30 countries across Europe, Central Asia, and Africa, including subsidiaries such as Ballast Nedam in the Netherlands and Heitkamp Industrial Solutions GmbH in Germany, Rönesans has been operating as the main contractor and investor successfully for more than 30 years in construction, real estate, concession, renewable energy and industrials. Putting resilience and growth through innovation at the core of the company, with a priority on sustainability and social development, Rönesans has developed projects supporting students with scholarships, academic platforms and initiatives; been a signatory of the UN Global Compact since 2015; and a signatory of the UN Women's Empowerment Principles since 2016. Under the leadership of its President Emeritus, Erman Ilıcak, Rönesans, along with its partners GIC, Meridiam Infrastructure, Sojitz, Samsung C&T, TotalEnergies, and IFC of the World Bank Group (minority shareholder in the group), has invested more than USD 10 billion into pioneering projects globally.