GE plans to invest 900 million $ in Turkey

Turkey's Economy Minister Zafer Caglayan has said that the GE would make investments worth 900 million USD in Turkey in the next three years.

Caglayan received the Vice President of General Electric (GE) Corporation John Rice in Istanbul.

When I look at GE's possible investments in aviation, energy, health, transportation and infrastructure, I can say that they have made a good analysis of the investments that Turkey needs, Caglayan stressed.

The GE has found out the basic stages in our incentive system, Caglayan underlined.

When you consider the fact that GE could have made such investments in other parts of the world, their decision to choose Turkey as the site for investments is no coincidence, Caglayan stressed.

This is the first time that the GE has announced a net figure for their investments. Where the investment and what type it will be will become clear in the next few months, Caglayan said.

The GE will manufacture wind turbines in Turkey in the next three years. Turkey will receive investments worth 130 billion USD in energy in the next ten years, Caglayan noted.

GE's Vice President John Rice said that their investments in Turkey will focus on developing infrastructure and innovation.

We are thankful to the Turkish government and Minister Caglayan for making our task easier as a company, Rice stressed.

GE has been active in Turkey since 1948. GE currently meets 25 percent of Turkey's energy needs with 56 facilities and more than 600 employees.