Energy Allied plans to invest in Turkey

Energy Allied plans to invest in Turkey

HOUSTON - Anatolia News Agency
Energy Allied plans to invest in Turkey

Çağlayan is seen here on the first day of the G-20 Summit in Mexico on April 20. AA photo

Turkish executives will meet with executives from Energy Allied International in Ankara in May, according to Turkey’s Economy Minister Zafer Çağlayan.

Çağlayan said the American energy firm was willing to construct a factory in the Aegean Turkish province of Manisa and was planning to make over $2 billion in investments.

May meeting ahead

“We will meet once more with company executives in Ankara in May,” Çağlayan told reporters on April 19 as he traveled from Houston, Texas to Mexico for the Group of 20 Summit.

Energy Allied International is capable of producing petrochemicals like acid and ammonia from coal, Çağlayan said.

“It is so exciting that this company will use our local charcoal,” he said.

Meanwhile, Mexican Economy Minister Bruno Ferrari has said that his country was ready to sign a free trade agreement with Turkey.

Minister Çağlayan met Ferrari in Puerto Vallerta city following the first session of G-20 summit.

Çağlayan told reporters that Turkey bore the tax burden unilaterally in its trade with Mexico under the European common market agreement, adding that Turkey would get rid of 30 percent of this tax if free trade agreement was signed.

“We will begin talks for the agreement as soon as possible,” he added.

Çağlayan also held several talks with South Korean, Indian and Mexican officials.