Turk­ish in­vestors tar­get Zim op­por­tu­ni­ties

Chronicle (Zimbabwe) - - Business Chronicle - Bianca Mlilo

A DEL­E­GA­TION of in­vestors from Turkey is ex­pected in the coun­try soon to ex­plore in­vest­ment op­por­tu­ni­ties in dif­fer­ent sec­tors of the econ­omy.

In an email seen by this pa­per, CZI chief ex­ec­u­tive of­fi­cer Mr Clif­ford Si­leya in­vited all their mem­bers in­ter­ested in busi­ness co­op­er­a­tionwith the Turk­ish in­vestors to ap­proach the eco­nomics de­part­ment of the in­dus­trial rep­re­sen­ta­tive body.

“It has come to our at­ten­tion that Zim­babwe, through the Zim­babwe In­vest­ment Au­thor­ity, has re­ceived com­mu­ni­ca­tion from a lead­ing Turk­ish com­pany that is in­ter­ested in vis­it­ing the coun­try in or­der to ex­plore in­vest­ment op­por­tu­ni­ties,” he said.

“Çukurova Group is one of the lead­ing play­ers of the Turk­ish econ­omy and cap­i­tal­izes on busi­ness op­por­tu­ni­ties at both do­mes­tic and in­ter­na­tional lev­els.

“The group has ex­pressed in­ter­est in the fol­low­ing sec­tors: en­ergy (gas, oil), in­dus­try (au­to­mo­tive, chem­i­cals, tex­tiles, among oth­ers), in­for­ma­tion and com­mu­ni­ca­tion tech­nolo­gies, con­struc­tion, in­fras­truc­ture, bank­ing and fi­nance, me­dia, and pri­vate sec­tor projects,.” reads part of the e-mail.

Es­tab­lished in 1923 as a tex­tile mill in Tar­sus, Çukurova Group quickly grew into a con­glom­er­ate within the in­dus­trial sec­tor es­pe­cially in the area of tex­tiles and con­struc­tion ma­chin­ery.

Due to growth over the years, Cukurova has ex­panded into other sec­tors as part of ef­forts to meet its am­bi­tious strate­gic tar­gets.

Çukurova Hold­ing A with its as­so­ci­ated com­pa­nies is one of Turkey’s largest busi­ness con­glom­er­ates.

As at 2013, the group em­ployed a to­tal of 31,800 peo­ple ex­tend­ing over 156 com­pa­nies.

It recorded rev­enue (in­clud­ing its sub­sidiaries) of $2,7 bil­lion in 2013 and at the end of the same year the com­pany had as­sets with a com­bined value of $9,7 bil­lion, whereas its eq­uity value stood at $2,2 bil­lion.

The com­pany owns Genel En­ergy Plc which is listed on the London Stock Ex­change and has busi­ness in­ter­ests in Iraq and Dji­bouti.

Genel En­ergy has six oil field con­ces­sions in North­ern Iraq with a daily pro­duc­tion of 200 000 bar­rels at present.

Cukurova Hold­ing also owns 70 per­cent of a bank in Switzer­land. -@Bian­caMlilo.

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