Turkey draws on wealth fund to support petrochemical investments
by ChemOrbis Editorial Team - content@chemorbis.com
Turkey’s sovereign wealth fund is planning to increase the country’s domestic energy production by investing in projects related to petrochemicals, mining and local natural sources as part of a new three-year economic program, the Turkish state-run news agency reported.
Accordingly, the fund will support projects that aim to decrease Turkey’s input costs in the energy sector as well as its reliance on imports. The new investment strategy will also mark the first time that the fund will cooperate with private sector participants in energy investments.
Presented by the Turkish Ministry of Treasury and Finance on September 30, the program also includes a revision of regulations that complicate company growth and sector-oriented loan policy.
Accordingly, the fund will support projects that aim to decrease Turkey’s input costs in the energy sector as well as its reliance on imports. The new investment strategy will also mark the first time that the fund will cooperate with private sector participants in energy investments.
Presented by the Turkish Ministry of Treasury and Finance on September 30, the program also includes a revision of regulations that complicate company growth and sector-oriented loan policy.
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