MOSCOW, January 20. /TASS/. Russian and Turkmen companies signed bilateral contracts worth a total of 150 bln rubles ($2.1 bln) during the Russian-Turkmen business forum held in Ashgabat, the press service of the Russian Economic Development Ministry said in a statement on Friday.

"After two days of working at the forum, Russian and Turkmen companies signed more than 50 bilateral agreements totally worth 150 bln rubles," Deputy Minister Dmitry Volvach was quoted as saying. "Turkmenistan is a reliable partner in the area of industrial cooperation. Businessmen of our countries are ready to implement new projects. Supported by the Russian Export Center, whose management worked at the forum during those days, projects on upgrading the rolling stock of the Turkmen railways, railcars and equipment are being implemented," he noted.

As of today, more than 20 investment projects worth $3.5 bln with Russian participation are being implemented in Turkmenistan, Volvach said, adding that new projects in the area of transport, construction, auto and shipbuilding, pharma, as well as geological exploration and the oil and gas sector, are being developed.