9/2/2009

Giant investment from Far East

Sabah – Takvim – The newly announced incentive package in Turkey has activated international investors. Alpaslan Korkmaz, President of the Investment Support and Promotion Agency of Turkey (ISPAT), has announced that the Chinese DFM (Dong Feng Motor) will make a USD 250 million investment in Turkey, while South Korean POSCO will construct a steel mill in Bursa province. The construction work for the two mills will begin in December. Korkmaz stated, “The Indians are getting ready to invest in the agriculture sector. We are currently holding talks with five Indian companies. The talks will be finalized in a couple of months. Meanwhile, a significant amount of investment will come from the Gulf countries. Initial steps have been taken for investments in the agriculture, food, infrastructure, energy and real estate sectors. We will announce them soon.” Korkmaz said that they will announce important investments in the agriculture and energy sector in the Eastern Anatolian Region and added, “We are in contact with 100-150 companies. They are waiting for the new law. There is robust interest in the renewable energy sector. We may draw USD 9-10 billion worth of investments by the year-end.”