LEADING NEWS SOURCE FOR TURKEY AND THE REGION

ECONOMY er-national

Construction of Turkey's Ilısu Dam to continue despite obstacles

ANKARA - Anatolia News Agency | 2/12/2010 12:00:00 AM |

Turkish Prime Minister Recep Tayyip Erdoğan said Thursday the construction of a dam and a hydroelectric power plant at a historical site in Southeast Turkey would continue.

Turkish Prime Minister Recep Tayyip Erdoğan said Thursday the construction of a dam and a hydroelectric power plant at a historical site in Southeast Turkey would continue.

Erdoğan said the consortium undertaking the Ilısu Dam project had now found the necessary financing after a group of Western export credit insurers withdrew their financial support in July 2009 on the grounds the project did not meet standards on the environment, the preservation of cultural heritage and relocating settlements.

"As I have been informed by the contractors, an additional commercial loan has been found and the construction work for the Ilısu Dam will continue in 2010," Erdoğan said.

The Ilısu Dam on the Tigris River is one of 21 dams being constructed as part of the Southeastern Anatolia Project, or GAP, Turkey's largest regional development project. According to Environment Ministry data, dam will be the country’s second largest after the Atatürk Dam and will annually generate nearly 4 billion kw/h of electricity annually.

Studies for the project, which began in the 1950s, lost the support of international financiers in 2009. A common statement announced by Germany, Austria and Switzerland’s banks said, “Some conditions like the preservation of environmental and historical fabric, despite some amelioration, were not fulfilled within the given period.”

The dam project will inundate Hasankeyf, a historical site in Batman province dating back 10,000 years that was declared a natural conservation area in 1981. The dam will further erase more than 80 villages and hamlets by the time of its planned completion in 2013.

MOST POPULAR

MOST COMMENTED

AcerPro S.I.P.A HTML & CSS Agency