Turkey’s Akfen vows to make investments worth over $1.7 billion in 2017

Turkey’s Akfen vows to make investments worth over $1.7 billion in 2017

Turkey’s Akfen vows to make investments worth over $1.7 billion in 2017 Turkey’s Akfen Holding will make investments worth over 6 billion Turkish Liras ($1.7 billion) in 2017, with the construction of giant urban hospital projects and energy projects taking the lion’s share, Akfen Holding and MIP Chair Hamdi Akın said at a press meeting to open the East Med Hub Terminal in Mersin International Port (MIP) on Dec. 15. 

The East Med Hub Terminal (East Mediterranean Terminal), which was built with the purpose of increasing the competitiveness of the MIP and its mega-ships to the port, was opened to service with a ceremony.

Speaking at the opening ceremony, Akın said Akfen would continue its investments in order to grow steadily, as in previous years. 

“Akfen Holding will make a total of 6 billion liras in investment in 2017. We will invest 3.4 billion liras (around $1 billion) in city hospital projects in the provinces of Isparta, Eskişehir and Tekirdağ, which are based on the Public Health-Private Partnership [PPP] model. These hospitals will open at the end of 2017. We also have an investment plan of 1.8 billion liras [around $800 million] in the energy sector. We are also continuing our investments in the field of renewable energy by diversifying our portfolio in order to contribute to the rapidly increasing energy demand of Turkey,” he noted. 

Akın vowed that Akfen would continue to invest in the port and mining sector.

“We are now opening the first phase of the dock expansion project we started in 2014. With the introduction of the East Med Hub Terminal, the port’s berth capacity reached 2.6 million TEUs. So far we have invested about $170 million for the first phase of the project. We will start the second phase of the enlargement project in 2017,” he said.

MIP, which was established as a partnership between PSA International and Akfen Holding, took over the Turkish State Railways (TCDD) Mersin Port Management for a period of 36 years in 2007 with a concession fee of $755 million.  

David Yang, PSA Europe & America Regional CEO and MIP Board Member, also attended the ceremony.
He said container vessels had shown considerable growth over the past 10 to 15 years. 

“The facilities that the East Med Hub terminal opened to the service are capable of meeting the needs of today’s industry,” Yang said, adding that the investment had enabled the opening of Mersin’s doors to mega vessels. 

“We have connections with more than 17 container operators we serve. In addition, with the infrastructure and equipment owned by the EMH Terminal, the port’s annual container handling capacity has increased from 1,800,000 TEU to 2,600,000 TEU. We want to bring a port in Mersin to the world scale in the future,” he added.