Turkey, UAE sign deal for $12 billion Energy deal

Afşin - Elbistan power plant

Hurriyet Daily News

The Turkish and United Arab Emirates governments agree to jointly develop Turkey’s large coal fields in the south for power generation. The $12 billion deal may help Turkey diversify its supply. 

Energy-hungry Turkey has signed a landmark deal with the United Arab Emirates to develop its coal fields in the south with a giant project worth nearly $12 billion.

The deal between the Abu Dhabi-based, government-controlled TAQA and Turkey’s state-run electricity company EÜAŞ was a crucial, according to Turkish Energy Minister Taner Yıldız.

“This is the second-biggest investment made in Turkey after the two nuclear power plant projects,” Agence France-Presse quoted the minister as saying.

The parties foresee the generation of some 85 million tons of coal annually, or 45 billion kWh every year. Some 15,000 people will be recruited during the construction phase and the facilities will provide jobs for 8,500 once finished, officials said.