First Published: 2018-02-06

Turkey's first nuclear power plant set for investor shake-up
Turkish consortium leaves project to build Turkey's first nuclear power plant due to failure to agree commercial terms.
Middle East Online

Private companies will be replaced by state-run Turkish energy firm EUAS.

ISTANBUL - The Turkish consortium that was to build Turkey's first nuclear power plant in a joint venture with the Russian atomic energy agency has pulled out of the ambitious project, reports said on Tuesday.

The Cengiz-Kolin-Kalyon (CKK) consortium -- made out of three major privately-owned Turkish industrial conglomerates -- has left the project due to a failure to agree commercial terms, the state run Anadolu news agency said.

Contacted by AFP, Cengiz Holding, one of the companies in the consortium, declined to comment.

A Russian newspaper carried a similar report, saying that the private companies would be replaced by a state-run Turkish energy firm.

Russia's state atomic energy cooperation Rosatom is to build the plant at Akkuyu in the southern Turkish Mediterranean province of Mersin.

Rosatom holds the majority 51 percent stake in the project, with the Turkish consortium 49 percent.

The atomic power station is the first of three already being planned by energy resource-poor Turkey to meet the needs of its growing 80 million population.

Its construction is a major symbol of the current close relations between Ankara and Moscow after a reconciliation deal in summer 2016 ended a bitter half year row over Syria.

Turkish officials expect construction of the plant to begin this year with the facility starting to come online from 2023, the 100th anniversary of the founding of the modern Turkish Republic.

Russian daily RBK quoted two sources close to the project as confirming CKK was leaving the project, adding it would be replaced by state-run Turkish energy firm EUAS.

A Rosatom spokesperson confirmed to the paper that it was continuing to look for investors and "EUAS is one of the companies with whom we are in talks."

RBK said the final agreement between shareholders on the building of the plant was to have been signed in late 2017 but this never happened.

Russian media have said that both sides wanted private Turkish investors to partner Rosatom in the project but its financial demands have meant that this was not possible.

 

Regime strikes in Syria enclave despite ceasefire call

Russia pours cold water on UN bid to condemn Iran over missiles to Yemen

Egypt presidential race starts with Sisi likely to win

Christian leaders close Church of the Holy Sepulchre in tax dispute

Blatter supports Morocco bid for 2026 World Cup

Iraq condemns 15 Turkish women to death for belonging to IS

Thousands expected for radical Israeli rabbi's funeral

Syrian Kurd leader arrested in Prague

Philippine officials meet nationals in Kuwait amid labour row

Families of IS suspects in Iraq face 'collective punishment'

Iran's ex-intelligence minister slams handling of prison death

More strikes hit E. Ghouta as UN delays truce vote

Turkey says US embassy Jerusalem opening in May 'extremely worrying'

Lebanon says both suspects in Kuwait murder of Filipina maid held

38 dead in Mogadishu car bombings

Morocco police arrests prominent newspaper publisher

Syria regime continues to pound Ghouta as world stutters

UN rights commission wants S.Sudan war crimes charges

Iran grounds airline's ATR planes after crash

Turkey summons Dutch diplomat over Armenian 'genocide' vote

Turkey navy threatens to engage Italian drillship near Cyprus

Iran police shoving headscarf protester sparks social media storm

UN Security Council to vote Friday on Syria ceasefire

Dubai says Djibouti illegally seized African port

Dutch parliament recognises 1915 Armenian massacre as genocide

Heavily bombarded Eastern Ghouta awaits UN resolution

Russia says Syria rebels rejected offer to evacuate E. Ghouta

UN diplomats press for Syria ceasefire without Russia veto

Iranian minister’s presence at UN rights meeting angers critics

Iran warns it will leave nuke deal if banks cannot do business

Qatar to plant thousands of trees to ‘beautify’ World Cup venues

Pro-Kurdish party says Turkey lying about 'no civilian deaths' in Afrin

African migrants protest Israeli detention policy

Egypt sentences 21 to death for planning attacks

Israeli handball teams in Qatar spark furious outcry from locals

UN report highlights S.Sudan journalist treatment

Palestinian dies after being shot by Israeli soldiers

Gulf states urge Syria to end Ghouta violence

Wanted Bahraini militants die at sea en route to Iran

Saudi Arabia to boost entertainment in next decade

Iran's Ahmadinejad calls for immediate free elections

Merkel calls for end to 'massacre' in Syria

Iraq urges FIFA to lift ban on hosting internationals

Carnage of Ghouta's bombs breaking families

Blockaded Gaza Strip forced to pump sewage into sea