Siemens, Statkraft confirm support in Turkey's economy

Siemens will continue operations in different sectors despite uncertainty from coup attempt, Siemens Turkey chairman says

Siemens, Statkraft confirm support in Turkey's economy

World Bulletin / News Desk

Siemens will continue operations in its various operational sectors in Turkey including energy, Siemens Turkey's chairman said Tuesday in response to the recent coup plot. 

Huseyin Gelis, chairman of the board of Siemens Turkey, expressed his condolences to those who died in the coup attempt which took place on July, 15, and underlined the event will not damage Siemens' investments in the country. 

The company, which has been operating in Turkey for 160 years, has survived many mass crises and coups, Gelis said. 

"Turkey previously experienced many serious issues and economic and social crises, but it was strong enough to overcome all these problems and continue on its path," he stressed and asserted that the country is again strong enough to deal with the current military coup attempt. 

Gelis emphasized that the company will continue with its planned investment strategies regardless of the climate following the failed coup. 

He concluded that he believes Turkey's economic stability will normalize and refutes the belief that the current situation will negatively impact the country’s economic development. 

Siemens began operations in Turkey in 1856 during the Ottoman Empire era. It currently operates in various sectors in the country from energy to transportation. 

The company generates €2 billion in annual income in Turkey alone.

The Norwegian company focusing on hydropower in Turkey, Statkraft, also expressed its confidence in Turkey. Statkraft's representative, Lars Magnus Gunther said that the company will continue to invest in Turkey's hydroelectricity and other energy investments. 

The company started operating in Turkey in 2009, and since then has installed 122 megawatts of capacity. This is expected to increase with the addition of 517 megawatts when the construction of Statkraft's third and largest power plant outside of Norway, Cetin Hydropower plant located in the Southeast Anatolia region, is complete. 

Güncelleme Tarihi: 26 Temmuz 2016, 13:44