Turkish investors target Zim opportunities
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.