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BUSINESS > General Electric to invest $900 million in Turkey

ISTANBUL - Hürriyet

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Çağlayan received GE’s Vice President John Rice in Istanbul yesterday.

Çağlayan received GE’s Vice President John Rice in Istanbul yesterday.

General Electric Corporation (GE) will make investments worth $900 million in Turkey over the next three years aimed toward infrastructure development and innovation, Turkey’s Economy Minister Zafer Çağlayan said. GE will also produce its wind turbines in Turkey during this three year window, Çağlayan said.

Çağlayan received GE’s Vice President John Rice in Istanbul yesterday. These wind turbines will bring Turkey’s to a very good place in terms of energy stressed Çağlayan.

“When I look at GE’s possible investments in aviation, energy, health, transportation and infrastructure, I can say that they have made a solid analysis of the investments that Turkey needs,” Çağlayan said.

“Turkey’s development goals go hand-in-hand with GE’s expertise. We see huge growth opportunities in developing Turkey’s infrastructure to become one of the world’s top ten economies by 2023,” said Rice.
Rice stressed that GE currently provides 25 percent of Turkey’s energy needs with its six facilities and 600 employees. GE also provides 60 percent of the Turkish aviation industry’s motors and 20,000 health technology products in the country’s hospitals.

GE has discovered the basic stages in our incentive system, Çağlayan said following his meeting.
“This is the first time that GE has announced a net figure for their investments. Where the investment [will go] and what type they will be will become clear in the next few months.”

June/12/2012

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