September 30, 2013
GE invests half billion in Turkey to spur energy opportunities. Turkey land of beauty innovation and enriched by its history. “GE invests $515 million in Turkish energy and other projects”
The Economic Times reported, General Electric has already invested more than half of the $900 million it has earmarked for Turkey on projects ranging from energy to healthcare to locomotive production, Chief Executive Jeff Immelt said on Thursday.
Further, “the investments totalling $515 million include supplying turbines for a 35-megawatt wind farm and gas turbines for an 840-megawatt power plant, both to be operated by GE’s Turkish partner, Gama Energy, when they start up in 2014 and 2016.”
To expand on the story Business Turkey Today reported, “On the other hand GE plan on Turkey is understood to focus on infrastructure and innovation as referred to by Vice Chairman John Rice. “GE’s planned investments in Turkey benefit from the opportunities offered by the rapidly growing economy and aligns well with the country’s 2023 vision..” the VC is reported to say.”
Background on Turkey: “Turkey is bordered by eight countries: Bulgaria to the northwest; Greece to the west; Georgia to the northeast; Armenia, Iran and the Azerbaijani exclave of Nakhchivan to the east; and Iraq and Syria to the southeast. The Mediterranean Sea is to the south; the Aegean Sea is to the west; and the Black Sea is to the north. The Sea of Marmara, the Bosphorus and the Dardanelles (which together form the Turkish Straits) demarcate the boundary between Thrace and Anatolia; they also separate Europe and Asia. Turkey’s location at the crossroads of Europe and Asia makes it a country of significant geostrategic importance.”