Giant investment from Saudi company to Turkey: $5 billion on the way
As part of the economic policy aimed at attracting foreign investment to Turkey, the Saudi Arabia-based energy company Acwa Power plans to invest $5 billion in the country.
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One of the goals of the economic policy implemented to curb inflation is to attract foreign investment to Turkey. While the government has been meeting with companies in Asia, the US, and the Gulf to achieve this, Vice President Cevdet Yılmaz recently mentioned the interest of a Saudi Arabian company.
"A company owned by Saudis mentioned that they want to make a $5 billion investment in Turkey in energy and other sectors," Yılmaz said, refraining from naming the company.
Bloomberg, citing a source, reported that the energy company Yılmaz referred to is Acwa Power. It was stated that the company is in talks with the Ministry of Energy and Natural Resources, but the current stage of these discussions was not specified.
An Acwa Power spokesperson said, "As part of our business development in the region, we are in discussions with parties in Turkey, but we cannot provide further details at this point."
Acwa Power's first investment in Turkey, a combined-cycle natural gas power plant in Kırıkkale, was opened in 2017. The plant has a capacity of 950 megawatts.