Public sector spending on energy and mining jumps to TRY 8.5 billion
The total amount of investment allocated to the energy and mining sectors by the public sector has reached just over TRY 8.5 billion, an increase of about 25 percent compared to the previous year. According to data gathered from the 2018 Investment Program, more than TRY 5.7 billion of public sector investments planned for this year was allocated to 155 projects in the energy sector while the remaining TRY 2.8 billion went to 58 mining projects.
Turkiye Elektrik Iletim A.S (TEIAS) received the largest share from the energy investments, a total of TRY 2.85 billion for ongoing projects and new projects slated for this year, with the vast majority of funds going to maintaining existing projects. New projects were allocated just under TRY 130 million. In total, TEIAS will operate 97 projects.
Well behind TEIAS, Devlet Su Isleri (DSI) received the next largest share, a little more than TRY 1.5 billion, which it will use to run 12 projects. Elektrik Uretim A.S. (EUAS) received the third-largest share with TRY 1 billion for 15 projects.
As for mining, Turkiye Petrolleri Anonim Ortakligi (TPAO) was awarded the highest share of public funds, at TRY 1.6 billion for ongoing and new projects in 2018. Unlike TEIAS, the largest portion of that – TRY 1.17 billion – was allocated for new projects among its total of 13 projects.
The second largest share, TRY 450.7 million, went to the General Directorate of Mineral Research and Exploration (MTA), which will carry 7 projects. EUAS was third with around TRY 240.4 million for 11 projects.
In last year’s investment program, the total amount of resources allocated to the energy and mining sectors was TRY 6.8 billion.