Italian Finmeeccanica to Invest 640 mln Euros in Natural Gas Facility in Turkey

‘In the coming period we will join tenders equaling 5 billion euros,’ Giorgio Zappa (R), the general manager of Finmeeccanica has said during a visit to Turkey.Ansaldo Energia, a subsidiary of Italian defense industry giant Finmeccanica, is preparing to build a 640 million-euro natural gas facility in Gebze, an industrial area in the northwestern province of Kocaeli.

Turkey’s Garanti Bank, İş Bank, Vakıf Bank and Yapı Kredi Bank will also contribute in financing the project, which is estimated to produce 865 megawatts of energy, according to a written statement by the Italian company Friday.

Together with Unit Investment, a Belgian finance company, Ansaldo Energia owns 40 percent shares, which equals 86 million euros, in Turkey’s Yeni Elektrik Üretim.

Ansaldo Energia will receive financial consultancy from Italy’s UniCredit and legal consulting from Chiomenti and Clifford Cahnce.
Finmeccanica’s General Manager Giorgio Zappa said earlier in November that his company planned vast investments in Turkey and had thus opened an office in Ankara.

The company has won tenders totaling 3 billion euros in the last four years.

July 16, 2011
SOURCE: TURKISH DAILY NEWS