5/23/2008

Energy company AREVA T&D to invest $105 mln in Turkey

Today’s Zaman and Milliyet - AREVA, one of the world's leading energy transmission and distribution companies, has decided to spend $105 million to expand their operations in Turkey by constructing a new factory that will create employment for an additional 600 people. Speaking to Today's Zaman, Investment Support and Promotion Agency of Turkey President Alpaslan Korkmaz said AREVA has steered itself toward Turkey because his agency provides them with free land for their investments. Korkmaz noted that Turkey was competing with Eastern European countries to draw AREVA's money in, but that Turkey was winning this race with the government's offers of free land and the quality of its engineers. AREVA currently employs 1,500 workers in Turkey. The company will produce energy transmission transformers spending USD 50mn initially. In the second phase, the company will invest a further USD 55mn, the daily Milliyet reports. Vice-chairman of AREVA, Ghislain Lescuyer, tells Milliyet that the production in new facilities will mainly meet local equipments demand however will also target neighboring markets such as Russia, Asia, and Ukraine. French AREVA has already expressed its intention to construct the first nuclear power plant in Turkey.

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