Over $3B in­vest­ment planned in Turkey via joint ven­ture

Dünya Executive - - BUSINESS -

Anew 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 Septem­ber 19.

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.

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