Invest News DetailHurriyet Daily News - Limak Investment, a Turkish group active in several businesses including port management, energy and construction businesses, has finalized a dam and hydroelectricity power plant in the southeastern province of Siirt worth USD 465 million. Turkish President Abdullah Gül and Prime Minister Recep Tayyip Erdoğan joined the opening ceremony of the Alkumru power plant in Siirt on Thursday. Two groundbreaking ceremonies were also held Thursday in Siirt to launch the Cetin hydroelectric power plant, a USD 700 million project by Norwegian renewable energy firm StatKraft, and Kirazlik hydroelectric power station, owned by Baren Enerji. Limak has a 20 percent share in Baren Enerji, executives said. Alkumru power plant is Turkey’s second biggest electricity generating dam run by the private sector, according to a statement by the company. 265 MW station is to produce 1 billion KW/h of electricity per year, which triples annual demand of the province. Cetin HPP will have an installed capacity of 517 MW and will produce 1.4 billion KW/h annually, while 45 MW Kirazlik is to produce 165 million KW/h. The Kirazlık facility is to start operating by the end of 2012, while production at Çetin will be launched in 2015, according to executives.