Aiming at playing a great role in the fast growing economy of Ethiopia and competitive incentive packages, affordable labor and improved infrastructure in the country, the Turkish giant, Turkish Industry Holding is to invest in power generating sector. The Chairman of Turkish Industry CO. Mr. Mehmet Coskun, the Vice President Mr. Hakim Alici and board member Mr. Ozan Semerci met Seleshi Bekele, PhD, the Minister of Water Irrigation and Electricity (MoWIE) yesterday at his office with the proposal of Electricity production power plant.
The Chairman stated that the power plant is gas fired cogeneration plant and the capacity will be 500mv, which will be one hundred per cent self-financed by Turkish Industry Holding and its co-partner AKSA Energy, another giant company in the energy sector.
This is also part of a discussion with the Ethiopian government in the last six months. Turkish Industry Holding is now on its third visit to Ethiopia. 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”.
Both sides showed keen interest and shall work to gather to make these projects success.