Turkish company set to generate electricity in Ethiopia

Turkish company set to generate electricity in Ethiopia

Energy

The Turkish giant, Turkish Industry Holding is set to invest 750 million Euros in power generating sector in Ethiopia. The anticipated power plant is gas fired co-generation plant and the capacity will be 500mv.

It which will be 100% self-financed by Turkish Industry Holding and its co-partner AKSA Energy, another giant company in the energy sector, according to chairman of Turkish Industry CO. Mr. Mehmet Coskun.



He along with the vice president of the company Mr. Hakim Alici and board member Mr. Ozan Semerci met Seleshi Bekele, PhD, the Minister of Water Irrigation and Electricity (MoWIE) in Addis Ababa on Wednesday.

The two sides have discussed about the proposal of the company. It is also part of a discussion with the Ethiopian government in the last six months, according to the company officials.

Turkish Industry Holding is now on its third visit to Ethiopia. The company plans to play a great role in the fast growing economy of Ethiopia and competitive incentive packages, affordable labour and improved infrastructure in the country.

The chairman of the holding company Mr. Mehmet Coskun said that they have decided to invest in Ethiopia following the discussion with President Mulatu Teshome, PhD, at the National Palace in their last two visits April 2018.

The company plans to invest 750 million Euros which will enable it to have its own Industrial Zone in Mekelle city of Addigudam region. This is as part of the government’s ambitious plan to increase the number of industrial zones in the country.

“We have full confidence and support of the authorities which encouraged us to further expand our investment not only in the heavy industry but also in the energy sector”, Mr. Mehmet said.

Turkish holding’s total investment in its own industrial zone in Mekelle region is planned to be established on over 484ha of land employing 2800 people.

The first phase of this private industrial zone shall consist of four main factories second and third phase to follow after the completion and fully operational of the first phase.

In total, the zone shall consist of three phases and will accommodate 11 factories.

Hence, the industrial park itself shall use 135mw of the energy it will produce. When completed, the surplus will be provided to the government, for local consumption or for export market.

“We are very grateful to his Excellency the President Mulatu who supported this investment from the very beginning. My deepest gratitude to his Excellency Seleshi Bekele, PhD, Minister of MoWIE for his warm welcoming in his office this afternoon and for his full support detail information regarding the electricity production and supply procedures in Ethiopia”, Mr. Mehmet further stated.

“He also advised us to send our technical team to work together with his stuff in a shortest possible time to work on this project”.

Turkish Industry Holding is engaged in multiple sectors ranging from steel, paper and ceramic production to construction.