9/30/2013

GE in USD 900 million investment drive in Turkey

Milliyet – General Electric (GE) is following through is its USD 900 million investment plan in a number of sectors in Turkey. Announced last year, the US-based conglomerate’s plans regarding Turkey envision investments in healthcare, energy, locomotive and jet engine manufacturing over the next 3 years.


The GE CEO, Jeff Immelt, in Turkey to attend a signing ceremony between GE and Turkish Engine Industries (TUSAS) in Eskisehir relating to the supply of jet engine parts to CFM International, a venture between GE and French company Snecma, said that the company has already invested USD 515 million in Turkey.


“This deal will create a business worth USD 2 billion along with 200 new jobs.”, the GE CEO said, adding that the energy sector was also a point of focus for the company. “We will take steps in manufacturing wind turbines and parts in Turkey as the renewable sector grows.”, said Immelt, adding that healthcare was also one of the key areas in which GE Turkey is active.


GE has partnered with Turkish Gama Enerji to build a EUR 400 million power plant in Kirikkale in Western Turkey. The company’s transportation division is jointly manufacturing the PowerHaul line of locomotives in Eskisehir with Turkey’s Locomotive and Engine Industry Corporation (TULOMSAS).

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