LG, Hyundai Clinch $4b Deals with Gas-rich Turkmenistan

South Korean industrial conglomerates LG and Hyundai will build gas processing plants in Turkmenistan worth a total of $4 billion, Turkmen President Kurbanguly Berdymukhamedov said on Friday.

"Turkmenistan sees a long-term partner in South Korea. And today we concluded two large-scale agreements worth a total of $4 billion," Berdymukhamedov Told journalists after holding talks with his visiting South Korean counterpart Park Geun-hye.

After the talks the contract to build two processing plants was signed by Turkmen state gas company Turkmengas, LG International Corp and Hyundai Engineering Co.

(Reporting by Dmitry Solovyov; editing by Keiron Henderson)