Abu Dhabi eyes $275m worth of investments in Turkmenistan

DUBAI: The Abu Dhabi Fund for Development (ADFD) on Wednesday signed three memoranda of understanding (MoUs) with the government of Turkmenistan to invest in a variety of potential projects including renewable energy, air transport, agriculture, and tourism.

The first MoU will see the establishment of an investment company in Turkmenistan with a target capital of AED370 million ($100 million), where Turkmenistani officials will present possible schemes to ADFD for investment.