Turkey Wealth Fund in talks for a potential $10-B petrochemical complex
The Turkey Wealth Fund (TWF) is in discussions with international partners over a proposed $10-billion petrochemical complex, underscoring its drive to anchor large-scale industrial investment in the country.
Speaking at the Istanbul Chamber of Industry, CEO Arda Ermut said talks with global companies are ongoing, with the project potentially structured as either a partnership or an industrial cluster. Land acquisition and environmental impact procedures have already been completed to strengthen Turkey's negotiating position.
Ermut added that TWF is also prepared to expand overseas when market conditions are favorable. The fund has cooperation agreements with sovereign investors in Abu Dhabi and institutions in Hungary, Oman, and the Bank of China, and plans to establish joint investment vehicles to finance projects in partner countries and third markets.
Established in 2016, TWF has built a diversified portfolio spanning finance, energy, transport, telecommunications, mining, and export-focused industries. The fund is also negotiating with an international investor to launch a vehicle targeting Turkish companies with strong export potential, part of a broader strategy to channel capital into sectors expected to drive long-term economic growth.
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