General Electric plans to invest in Turkey

ISTANBUL - Reuters

General Electric plans to invest $900 million in Turkey as promised last year, CEO Jeffrey Immelt said ahead of his meeting with Energy Minister Taner Yıldız.

The company wants to start serious talks with Turkey to evaluate cooperation opportunities in the fields of LED technologies, wind power and gas turbines.

“I’m looking forward to discussing the projects [in these fields],” Immelt said, adding that there would be some solid announcements about the company’s plans in Turkey. “I want to make these announcements later,” he said.

Greater cooperation

“General Electric may play a significant role in the realization of energy projects in Turkey and the maintenance of sustainable growth,” Minister Yıldız said, adding that Turkey remembered the significant contribution of the company during the establishment of the country’s first lamp factory in 1948.

Yıldız also emphasized that Turkey required some significant investments to save on the cost of street lighting. ”We will probably put this issue on our agenda with GE,” he said.