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ECONOMICS > Ukraine delegation invites companies for mega projects

GÖKHAN KURTARAN ISTANBUL - Hürriyet Daily News

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Attendees listen to a speech by Selçuk Tayfun, deputy secretary general of ICOC, during a business meeting in Istanbul.

Attendees listen to a speech by Selçuk Tayfun, deputy secretary general of ICOC, during a business meeting in Istanbul.

Ukraine is calling on leading Turkish firms to take a share in the country’s giant projects, ranging from energy to construction initiatives worth approximately $15 billion, the top executive of a Turkish business council said yesterday.

Turkish firms have been invited to collaborate on these projects as Turkey has already proved its capacity through its investments in Ukraine, according to Ruşen Çetin, chairman of Turkish-Ukrainian Business Council of Foreign Economic Relations Board (DEİK).

The many energy, infrastructure and construction projects designed by Ukrainian President Victor Yanukovych are likely to attract Turkish firms to form consortiums.

The Ukrainian president will visit Turkey on Dec. 22 to meet Turkish Union of Chambers and Commodities Exchange (TOBB) and leading Turkish firms to finalize some of the projects, Çetin added.

“Ukraine plans to construct a liquefied natural gas [LNG] terminal in one of the Black Sea ports of Ukraine in order to receive, store and re-gasify liquid natural gas,” said Vladyslav Kaskiv, head of the Ukrainian State Agency for Investment and National Projects of Ukraine (SAINPU) while also noting the possibility of delivering the gas to Ukrainian and European consumers.

The project envisages the construction of a LNG terminal with a total capacity of 10 billion cubic meters of natural gas per year. The country aims to attract $9.5 million investment in biomass energy in the Kyiv region.

There are also separate plans for businesses from the two countries to work together on sport facilities build in preparation for the Ukrainian Winter Olympic Games bid in 2022. The project, named “Olympic Hope 2020,” would take place in the valley of Borzhava, in the southern Ukrainian Carpathian Mountains. Residence blocks, hotels and winter sport facilities would be built on a plot of nearly 350,000 square meters of land.

In addition, the Ukrainian “Clean City” project envisages the construction of 10 centers with a total capacity for household waste of up to 2 million tons per year, as well as the realization of the “Open World” initiative, which is designed to develop broadband network access for nearly 20,000 schools across Ukraine.

Ukraine is also planning to spend 40 million euros on the construction of a 10-megawatt solar power plant and 150 million euros on the construction of a 100-megawatt wind farm. On average, 1 MW of power can supply electricity to as many as 300 U.S. households per year. According to TurkStat figures, the average person in Turkey consumes 540 kW of electricity in one year.

“Turkish construction firms have nearly $20 billion in contracts in nearly 90 countries,” said Selçuk Tayfun, deputy secretary general of Istanbul Chamber of Commerce, noting that the Ukrainian construction projects of Turkish firms were worth $3.7 billion

November/22/2011

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