INVESTMENTS IN TURKEY’S ENERGY SECTOR
India's largest conglomerate Tata Group is considering investing in Turkey to expand the energy portfolio of its power generation, distribution and transmission division, Tata Power. The hundred-year-old company plans to increase its power generation capacity to 10,000 MW from its current level of 3,790 MW within the next 2 years, according to its Managing Director, Anil Sardana.
Speaking to Indian press, Sardana said that the company was seeking opportunities in the Middle East and Southeast Asia and singled out Turkey as a country as he laid out plans for Tata Power's investment projects.
Sardana said that, apart from power generation, the company would be looking at transmission and distribution network projects in countries such as Sri Lanka, Bangladesh, Nepal and Bhutan in Southeast Asia adding that African countries were also important for Tata Power's investments abroad. "Investing in Turkey and the Middle East is potentially very profitable..." he said, stating the company's willingness to set up energy projects in the region, without disclosing details.
Late last year, another Indian company Aditya Birla announced an investment of USD 500 million in Turkey's southern province of Adana to set up a fully integrated VSF plant.