The Turkish army pension fund Oyak will focus on investments that boost operational profitability in infrastructure, energy and logistics, with the goal of nearly doubling its total asset value by 2030, its CEO said on Wednesday.
Murat Yalçıntaş was speaking at a press conference to outlined the fund's upcoming investment plans, including new foreign capital, infrastructure spending and expansion in energy, mining and logistics.
Yalçıntaş said the company has identified infrastructure, energy, logistics, high technology and mining as priority sectors under its 2030 vision.
Accordingly, Oyak aims to strengthen its balance sheet and enhance cash generation and capital efficiency while expanding its asset value from current $35.4 billion to $60 billion by the end of the decade.
Ports, refinery investments in focus
Yalçıntaş said the fund plans significant investments in ports and refinery projects, alongside preparations for new public offerings across several group companies.
"We are planning port investments as part of our logistics strategy and are also evaluating other ports," he said, adding that the group is working on multiple alternatives for a refinery investment both in Türkiye and abroad.
He also noted that Oyak Çimento has reached an advanced stage in overseas discussions with Taiwanese partners, while the mining division aims to expand internationally. In automotive, the group will prioritize hybrid engine and electric vehicle technologies, he added.
Foreign capital inflow from Oman
Yalçıntaş said Oyak will bring foreign investment into one of its domestic businesses and announce the deal within a week as part of a deal with Oman Investment Authority (OIA).
The cooperation has already produced two concrete outcomes, he said, including foreign investment into Hektaş’s Uzbekistan project and a new capital inflow into a domestic Oyak company expected to be announced shortly.
He added that the group is also evaluating participation in another investment fund being established in Central Asia.
IPO pipeline, export growth target
Oyak is preparing new initial public offerings (IPOs) and aims to expand its capital markets portfolio by 50% by 2030, starting with companies that have sustainable cash flow, Yalçıntaş said, adding that at least one listing is planned this year.
Operating in sectors including mining and metallurgy, cement, automotive, energy, chemicals, food, finance and construction, Oyak has more than 130 companies across 24 countries. As of June 2025, the group reported $8.6 billion in consolidated revenue, $509 million in operating profit and $1.3 billion in net profit.
Oyak companies generated $6 billion in exports in 2024, accounting for 2.3% of Türkiye's total exports, with preliminary data indicating roughly 6% growth in 2025, mainly driven by automotive, mining-metallurgy and energy.
The group aims to raise exports to $10 billion by 2030, Yalçıntaş said, adding that while investment discussions regarding Syria are ongoing, any concrete move is more likely in 2027 rather than 2026.