Saparmurat Niyazov, President of Turkmenistan, signed a legal order which empowers Ministry of Textile Industry and Ministry of Trade and Consumer Cooperation to deal with Turkish company 5M Insaat Tekstil Ithalat Ihrajat Sanai Ticaret Ltd Sti for establishing a trade center in Ashgabat.
Net investment of US $35 million is required for the transaction. The trade center with total area of 3.5 thousand square meters will be housed in a high-rise residential complex.
Both ministries will share expenses of the project using their funds and returns gained by selling flats in the complex. This project is expected to be operational by October 2008.
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