Turkey offers investment incentive certificate worth $20 bln for Akkuyu nuclear plant

ANKARA

An investment incentive certificate was granted last month for the Akkuyu nuclear power plant project, being built in southern Turkey, with a fixed investment sum of 76 billion Turkish Liras ($20 billion), Turkey’s Official Gazette said on Dec. 22.

With the incentive certificate, the project has also gained VAT and customs duty extensions, according to the list on the gazette.

The project, which will have an installed capacity of 4,800 megawatts, will create 2,764 jobs and will pay $4.5 billion to import machinery and equipment, the list showed.

A total of 639 companies and projects were granted investment incentive documents in November with several tax exemptions.

Russian President Vladimir Putin said last month the Russian state nuclear agency Rosatom would begin work at the Akkuyu site in the near future and that the first reactor was planned to be launched in 2023.