One of Turkey's construction giants Rönesans Holding signed a framework cooperation agreement with the Dutch Port of Rotterdam for the Ceyhan Mega Petrochemical Industrial Zone in Turkey.
Rönesans Holding and the Port of Rotterdam, the largest port and industrial zone operator in Europe, entered into a framework cooperation agreement on Monday in Rotterdam.
Dr. Erman Ilıcak, the president of Rönesans Holding, and Allard Castelein, the president and CEO of the Port of Rotterdam, attended the signing ceremony.
Rönesans Holding is leading the development of the Ceyhan Mega Petrochemical Industrial Zone in the south of Turkey with its planned petrochemical investment in the industrial zone.
Along with this investment, Rönesans Holding will cooperate with Port of Rotterdam to develop the entire zone with additional investments and best operation/management practices which were gained with 150 years of port development and management experience.
Within the scope of the framework agreement, Rönesans and the Port of Rotterdam will start working on development of a petrochemical cluster and attracting global brands for investment to the zone. Rönesans Holding will work together with Port of Rotterdam to transfer the expertise and know-how of the state-owned company, which is in charge of management and operation of the largest industrial zone and port in Europe.
The projects in the Ceyhan Mega Petrochemical Industrial Zone will primarily focus on petrochemical plants. The industrial facilities to be built in the zone will produce petrochemical products in Turkey, end the import of such products, reduce the foreign exchange gap and make a significant contribution to the national economy and employment.
During President Recep Tayyip Erdoğan's visit to Algeria in February, Rönesans signed a $1 billion deal with Algeria's state-run energy and chemicals company Sonatrach for a petrochemical investment in the Yumurtalık free economic zone, in the southern Turkish city of Adana. The plant is expected to produce 450,000 tons of polypropylene per year.