Turkey approved a 15.3 percent annual increase in public expenditure in its energy and mining sectors in 2019, the country's Official Gazette announced yesterday.
Under the presidential decree for the government's 2019 investment program, the country will invest TL 9.81 billion for energy and mining projects this year, compared to TL 8.51 billion in 2018.
The country will allocate nearly TL 7.71 billion for 104 projects in the energy sector, and plans to budget approximately TL 2.10 billion for 49 projects in the mining sector.
Turkey's Petroleum Pipeline Corporation (BOTAŞ) will have the lion's share of public investment in the energy sector. The country will allocate nearly TL 3.70 billion for the corporation's 15 ongoing and planned projects for 2019. BOTAŞ will be followed by Turkey's Electrical Transmission Company (TEİAŞ), which with its 31 projects this year will receive TL 1.99 billion.
Turkey's State Hydraulic Works follows TEİAŞ as the third largest recipient will receive TL 1.12 billion for its 11 projects.
In the mining sector, the biggest share of public investment will be given to Turkish Petroleum with TL 1.26 billion for the company's 13 ongoing and planned projects in 2019.
The Mineral Research and Exploration General Directorate (MTA) will obtain TL 315.49 million for its six projects while Turkey's Electricity Generation Company (EÜAŞ) will be allocated TL 168.26 million for its eight projects.