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Chinese energy giant NARI group has inked a $3-billion investment deal with Turkey’s CS group to conjointly enter into the Middle East and Turkish energy markets, starting with a solar power generation project.
The agreement between NARI, a subsidiary of the Chinese State Grid company, the seventh largest of the world, and the Turkish CS group, comprises several projects dealing in power generation, transmission and distribution fields.
The deal appointed CS Group, which operates in the energy, construction, defense and security sectors, as the sole representative of NARI in the Turkish and Middle Eastern markets.
The first joint step of the two firms will be a $200-million and 100-megawatt (MW) licensed solar power plant investment and the sale of a smaller, 35-MW plant, CS Group Chairman Cem Çolak told daily Hürriyet.
Commenting on the Chinese firm’s ranking among the world’s top ten actors, Çolak set the bar high for them as well, saying, “As a Turkish firm, our aim is to take our place as a strong player in the global market.” Hurriyet Daily
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