A new joint venture company formed between Turkish and international firms plans on investing over $3 billion in energy projects in Turkey, the Albayraklar Companies Group said on Thursday.
Albayraklar signed a partnership agreement in Dubai to establish a new company; Albayraklar Almaden Global Enerji, which is focused on investing in the oil and solar energy sectors as well as in defense technology.
Among the shareholders of the new venture are, head of Global Investments Group Shaikh Abdulaziz Al Khalifa, China-based solar panel manufacturer Almaden Company CEO Dan Tseng and board member Wen Kai Hsu, along with Naser Muhyealdeen from Al Reyami & Muhyealdeen International legal firm.
Turkey's Consul General in Dubai Mustafa Ilker Kilic, Turkey's Commercial Attache in Dubai Ahmet Canli, the Board Chairman of Albayraklar Group Adnan Albayrak and CEO of Albayraklar Companies Group Sertan Aycicek also attended the signing ceremony.
Initially, the new company will enter solar and renewable energy tenders with plans to invest over $3 billion in Turkey.
In the future, the new company plans to expand its investments to neighboring countries.
Reporting by Belgin Yakisan
Writing by Zeynep Beyza Kilic