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Wednesday, 28 March 2007


India's mega investment in Turkey

FDI to Turkey seems to increase rapidly. India Infoline News Service reports that Indian Oil Corporation Ltd. (IOC) is looking to set up a 15 million tons per year greenfield refinery at Ceyhan for US$6bn. IOC has also bid for a majority stake in Turkey`s Petkim refinery.

IOC is also in talks for a pipeline project in Turkey. The project, estimated at US$2bn, would involve laying of pipeline from the Black Sea to the Mediterranean Sea. IOC would pick up a 12.5% stake in the Samsun-Ceyhan pipeline. Work on the project will begin by April-end.

The 350-mile and one million barrels per day line is being developed by a joint venture between Italy's ENI and Turkey's Calik Energy, called Trans-Anadolu Pipeline Company (TAPCO).


# posted by Turkishpolitix : Wednesday, March 28, 2007  




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