1/15/2010

Singapore-based company to invest in Ceyhan

 

Hurriyet Daily News - A Singapore-based company is interested in investing in the Ceyhan Energy Specialization Zone, said Ilhan Atis, Adana Governor, a city situated on the Seyhan River in south-central Anatolia, 30 kilometers inland from the Mediterranean Sea.

 

Ceyhan will be one of the most important locations in the future, said Atis, while he did not disclose the name of the company that is interested in the area. Investment plans of the Istanbul-based conglomerate Calik Holding in the area have become definite, he said, adding that foreign companies are also keeping a close eye on the region.

 

Representatives of the Singapore-based company already paid a visit to the region and conducted feasibility studies, according to Atis. “The company is interested in establishing a port and a petroleum storage area in Ceyhan. The total consideration for the investment is expected to be USD 2 billion”, he said.

 

The Baku–Tbilisi–Ceyhan pipeline will bring 50 million mt of crude oil from Azerbaijan to the region, he said, adding that the Iraq-Turkey pipeline brings about 70 million mt of crude oil from Kirkuk. With the planned Samsun–Ceyhan pipeline, which will have an annual capacity to bring 70 million mt of crude oil to Ceyhan from the Black Sea, the total will surpass 190 million mt of crude oil. This amount will require establishing oil-processing facilities and in turn will mean employment for tens of thousands of people, he added.

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