ISTANBUL (Reuters) - Turkey’s Hattat Holding and China’s Harbin Electric (1133.HK) will invest $250 million in building a factory in northwest Turkey to manufacture power plant equipment, Hattat’s chairman said.
The plant, planned for completion within two years, will produce equipment such as boilers, generators and turbines at Cerkezkoy in Turkey’s Tekirdag province, Hattat management board chairman Mehmet Hattat said.
“This plant will produce equipment for coal, hydroelectric, wind, natural gas and nuclear power plants,” Hattat told a signing ceremony with Harbin executives late on Tuesday.
The plant, which will employ about 2,000 people, is designed to lessen dependence on foreign produced equipment in Turkey, Hattat said.
Hattat said his company, an Istanbul-based group active in energy, automotive and tourism, also planned to enter coal-fired power plant privatization tenders with Harbin.
Reporting by Evrim Ergin; Writing by Daren Butler; Editing by Elaine Hardcastle