Turkish companies will engage in collaborative work with global investors to stimulate mergers in the nuclear sector between nuclear companies that can contribute the growth of the economy
A written statement from the Nuclear Industry Association of Turkey said when initiatives aiming to enlarge Turkey's nuclear economy develop into realized businesses; the country will rise more rapidly in the global economy.
According to the statement, the country's nuclear economy is growing with the existing nuclear power plant projects in Akkuyu and Sinop, as well as a third planned nuclear facility. It was stressed that if Turkish companies can join the supply chain of foreign companies, they will have an opportunity to take a share of international nuclear projects as well, since Turkey's nuclear market worth $40 billion attracts the attention of foreign investors.
Nuclear Industry Association of Turkey founder and secretary-general, Koray Tuncer, said the association endeavors to increase mergers between nuclear companies to contribute to the growth of the economy. To achieve this aim, the association has signed several cooperation agreements with foreign nuclear industry associations.
Speaking to Anadolu Agency (AA), Tuncer said cooperation agreements signed with nuclear industry associations from the United Kingdom, France, Canada and Bulgaria will boost Turkey's nuclear economy, adding: "We strive to transfer technology and experience from abroad to make Turkish firms the suppliers of nuclear projects."
According to Tuncer, currently many domestic companies cannot directly provide materials for nuclear power plants, but they can join the supply chain by merging with other companies that can provide materials for the existing projects. "If we can increase the number of these projects in the future and create our own nuclear supply chain, we can accelerate Turkey's rise among the largest economies in the world," he said.
Tuncer stressed that the issue of developing cooperation between domestic producers and foreign companies will top the agenda during the third International Nuclear Power Plants Summit, which will be held in Istanbul from March 8-9.
Turkey launched the construction of its first nuclear power plant in Akkuyu, located in the southern province of Mersin, in April 2015 in order to provide greater energy self-sufficiency. The $20 billion project will consist of four units able to generate 1,200 megawatts of power each. The power plant, which is being constructed by Russian state-run atomic energy corporation Rosatom, is expected to produce approximately 35 billion kilowatt-hours of electricity per year after its construction is completed, and its service life is expected to last 60 years. A second plant is planned to be built by a French-Japanese consortium in the northern Black Sea city of Sinop. Also, former Energy and Natural Resources Minister Ali Rıza Alaboyun announced in October 2015 that the İğneada district in the northwestern province of Kırklareli is where the country's third nuclear power plant will be built.