Harbin Electric agrees to Turkish factory JV

Turkey's Hattat Holding and China's Harbin Electric will invest $250 million to build a factory in northwest Turkey to manufacture power plant equipment, Hattat's chairman said.

Planned for completion within two years, the plant will produce equipment such as boilers, generators and turbines at Cerkezkoy in Turkey's Tekirdag province, said Mehmet Hattat.

"This plant will produce equipment for coal, hydroelectric, wind, natural gas and nuclear power plants," he said at a signing ceremony with Harbin executives.

The plant, which will employ about 2,000 people, is designed to lessen dependence on foreign produced equipment in Turkey.

Hattat said his company, an Istanbul-based group active in energy, automotive and tourism industries, also plans to enter coal-fired power plant privatization tenders with Harbin.

China Daily-Agencies