Over $3B investment planned in Turkey via joint venture


A new joint venture company formed between Turkish and international firms plans on investing over $3 billion in energy projects in Turkey, the Albayraklar Companies Group said on Thursday.

Albayraklar signed a partnership agreement in Dubai to establish a new company; Albayraklar Almaden Global Enerji, which is focused on investing in the oil and solar energy sectors as well as in defense technology.

Among the shareholders of the new venture are, head of Global Investments Group Sheikh Abdul-Aziz bin Mubarak al-Khalifa, China-based solar panel manufacturer Almaden company CEO Dan Tseng and board member Wen Kai Hsu, along with Naser Muhyealdeen from Al Reyami & Muhyealdeen International legal firm.

Initially, the new company will enter solar and renewable energy tenders with plans to invest over $3 billion in Turkey.

In the future, the new company plans to expand its investments to neighboring countries.

*Writing by Zeynep Beyza Kilic
Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.

AdvertisementThe new Emirates Premium Economy has arrived on the latest Emirates A380 Emirates Get the best value from your summer holiday with exclusive offers and discounts across Dubai and the UAE with Emirates Pass

What do you think?