TOKYO -- Mitsubishi Corp. is on track to participate in construction of two large chemical plants in Turkmenistan in cooperation with Turkish conglomerate Calik Holding, in a deal thought to be worth around 500 billion yen ($4.08 billion).
The Japanese trading house signed memoranda of agreement Friday with chemical company Turkmenhimiya and gas company Turkmengaz. Executives of both state-owned firms are visiting Japan. The agreements involve construction of fertilizer and synthetic resin plants.