Turkish conglomerate Limak Holding is planning to commission three power plants with an installed capacity close to 600 megawatts (MW) by the end of 2019. The group is also in talks to acquire a hotel in France and invest in three more in Mersin and Macedonia's capital Skopje, according to Reuters. Limak Holding Chairman Nihat Özdemir and Limak Tourism Group General Coordinator Kaan Kavaloğlu discussed the group's new hotel investments in the Turkish Republic of Northern Cyprus (TRNC).
"We're investing almost $200 million in Northern Cyprus's hotel industry," Özdemir said. "With this investment, we have increased the number of hotels we operate to eight with a total bed capacity to over 7,000. Our goal is to reach 10,000 beds in five years."
Özdemir added that they will invest $300 million in two hotels in Mersin and around $250 million euros in a hotel, residence, shopping mall and commercial complex in Skopje, Macedonia.
He said that they were planning to commission two hydroelectric power plants (HEPP) with an installed capacity of close to 600 MW within the next two years, adding that a 15 MW geothermal power plant will be operational at the end of this year. He noted that about 500 MW Siirt Çetin HEPP, which the company acquired from Norwegian Statkraft, will be commissioned in 2019 and that the project is moving very fast. Özdemir said that the 74 MW Gürsöğüt HEPP and the 15 MW Buharkent geothermal power plant will be commissioned this year.
"We are in acquisition talks with a hotel group in Nice, France," Limak Tourism Group General Coordinator Kavaloğlu said. "Over time we will shift our tourism investments to the Balkans and Western Europe. In addition, we will be investing in a city hotel as part of the Istanbul New Airport project."