Energy Allied to Invest USD 3 billion in Turkey
According to Turkey's Minister of Economy, Zafer Caglayan,
Texas-based Energy Allied International is considering to invest as
much as USD 3 billion in energy and petrochemicals in Turkey. He
said that the US company was close agreeing on the large scale
investment to produce chemicals such as ammonia and sulfuric acid
using domestic coal reserves. "This investment will take
advantage of Turkey's new investment incentive system.",
Caglayan said at the press event following his visit to the US,
adding that Energy Allied was also planning a coal gasification
facility which would reduce Turkey's energy imports
considerably. The planned strategic investment will create
employment for 4,000 people and reduce Turkey's imports by USD
1.5 billion a year, the Minister said. Turkey has huge reserves of
coal that it is increasingly utilizing to feed the energy demands
of its growing economy. In January 2013, Turkey and UAE signed
