Turkey's Akkok Group may invest up to $1 billion in energy - paper
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Turkey's Akkok Group, which owns power producer Ak Enerji, may invest between $500 million and $1 billion in energy projects, Dunya newspaper said on Monday.
The investment includes building a large natural-gas fired power plant, Mehmet Ali Berkman, Akkok's chief executive, told Dunya. The company will also invest in carbon fibre, he said.
He did not specify a timeframe for the investments.
The company has already invested in eight hydroelectric power plants and one wind-fired plant, Dunya quoted Berkman as saying. Ak Enerji is Turkey's third-largest non-state power generator.
Akkok isn't planning to expand in areas outside energy this year, but would be interested in finding a partner with crude oil resources with which to develop fibre-production, Berkman said, according to Dunya.
The Istanbul-based company merged its textile units, Aksu Iplik and Ak-Al Tesktil to cut costs, he also said.