Turkey to invest in coal in south

Energy minister says government plans large-scale investment in Kahramanmaras, indicating foreign interest in similar investments in Turkey's Mediterranean city

Turkey to invest in coal in south

World Bulletin/News Desk

Turkey will make one of its largest coal investments in the southern province of Kahramanmaras, Energy Minister Taner Yildiz has said.

Kahramanmaras produces more than it consumes and its place in Turkey’s energy structure is important, Yildiz said Sunday.

"We invested 3 billion Turkish Liras ($1.3 billion) in Kahramanmaras. Afsin-Elbistan Thermal Plant, which is one of Turkey's largest coal deposits in the south eastern part of the country, was constructed 30-35 years ago and it is time to upgrade it by building new units,” the minister said.

He said that in four years, the Turkish government would invest $3.6 billion in the province.

"We will make one of the biggest coal investments of Turkey in Kahramanmaras, and Japan, South Korea and China are also interested in investing there. Besides these countries, I have spoken on the Afsin-Elbistan issue with Tamim bin Hamad Al Thani, Emir of Qatar. The Qatar Investment Authority is following the project," he added. 

Reduction in fuel prices 

Yildiz said that the government applied discounts to petroleum products 10 times over the last six months, and these were in line with international price fluctuations.

"If the crude oil prices continue to fall, this also will make fuel oil prices fall. Some of the international authorities say that the fall of oil prices will continue, but some of them don’t agree. It’s early to talk about this issue but if there is to be a reduction in oil prices, it will definitely be reflected in fuel oil prices," he said.

Yildiz added that fuel oil prices without tax had fallen by 44.4 percent globally in the past six months, and in Turkey by 42.1 percent. This reduction meant that Turkish citizens paid $6 billion less to petroleum products.

Güncelleme Tarihi: 21 Aralık 2014, 16:14