5/26/2008

Southeast plan fuels foreign investment

Turkish Daily News - The government's recent announcement of allocating $12.5 billion to the country's Southeast has drawn considerable attention from investors. Besides domestic companies, many foreign investors are seeking to seize opportunities in the region as Turkey intends to complete the Southeastern Anatolia Project, known by its Turkish acronym GAP. Through a partnership with investors from Turkey and Dubai, an Italian food producers union is preparing to establish 85 food facilities on an area of 25,000 dunams in Kilis, a city on the border with Syria. The official procedure of the project, which is expected to cost around $8-10 billion, is about to be completed. An Australian group, which has been investigating the region in the past year, is considering building a marble factory. Australian businessmen are also planning to invest in a coal-fired power plant in Sirnak. Saudi Arabia's Agriculture Minister Fahd Balghunaim plans to visit the project in August to discuss future investments. French businessmen are also touring the Southeast as they consider organic production while investors from Israel and India are looking into pomegranate and almond farming.

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