Turkey's Power Sector To Continue To Attract Investors

Czech power company CEZ announced on February 12 that its joint venture (JV) with Turkey's Akkok Group has acquired Turkish power grid company Sakarya Elektrik Dagitim (Sedas). The JV, called Akenerji, acquired Sedas for US$600mn. However, the total outlay by Akenerji is expected to be about US$3bn as it plans to increase Sedas' power generation capacity to 3,000MW by 2013. Tomas Pleskac, CEZ's vice chairman and division international chief officer, said that 'investment in Turkey in today's worldwide economical conditions is a sign of our confidence in the Turkish economy and our partner Akkok Group.

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