Energy sector draws foreign investment to Turkey

DAILY SABAH
ISTANBUL
Published
Turkey’s Mediterranean port of Ceyhan, which is run by state-owned Petroleum Pipeline Corporation (BOTAS), 70 kilometers away from Adana, Turkey.
Turkey’s Mediterranean port of Ceyhan, which is run by state-owned Petroleum Pipeline Corporation (BOTAS), 70 kilometers away from Adana, Turkey.

Despite global fluctuations, Turkey is still a favorite country for foreign direct investment. Turkey attracted $4.356 billion worth of investment in the first half of the year, and foreign investors predominantly focused on the energy, industry, agriculture and service industries. A total of 33 percent of foreign direct investment that flowed into Turkey in the first half of the year was transferred to the energy and mining sectors. According to Central Bank of the Republic of Turkey (CBRT) data, foreign direct investment amounting to $2.896 billion was made in Turkey in three main sectors - agriculture, industry and services.

A total of $1.275 billion was invested in the production and distribution of electricity, gas, steam and air conditioning, which are sub-sectors of the industry sector, while the mining and quarrying sectors attracted foreign investment totaling $185 million, amounting to $1.460 billion in total that constituted 33 percent of the foreign direct investment inflow in the first half of the year.

The greatest investment coming from one single country in the same period was the $735 million investment that flowed from Russia in January in the production and distribution of electricity, gas, steam and air conditioning as part of the Akkuyu Nuclear Power Plant. A total of $188 million, $183 million and $165 million worth of foreign direct investments were made in the same fields in February, March and May, respectively, while these figures were realized at $2 million in both April and June. In the same period last year, $902 million was invested in the production and distribution of electricity, gas, steam and air conditioning. A total of $163 million, $1 million, $19 million and $2 million were invested in the mining and quarrying industries in January, March, April and June of 2015, respectively, while a total of $71 million was invested in this field in the first half of last year.

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