Turkey aims to build home-grown nuclear industry


Turkey wants to build a home-grown nuclear industry over the next decade as it seeks to cut reliance on costly imported oil and gas, according to a report by Reuters. The fast-growing nation of 76 million people, which faces a ballooning energy deficit, last week awarded a $22 billion deal to a Japanese-French consortium to build its second nuclear power plant at Sinop on the Black Sea coast. The development of its planned first nuclear plant was also handed to a foreign company - Russia’s Rosatom. However, the government hopes that by the time it builds its third planned nuclear plant, local talent and technology will be the backbone of the project. Energy Minister Taner Yildiz said Ankara was looking for its third plant to be 80-85% built with Turkish engineering and expertise, although a foreign partner would probably still be involved in the financing. “We will wait for the third plant in order to accumulate our nuclear experience. We would team up with a foreign partner, but the third one will not be a build-and-operate deal,” Reuters quoted him as saying. Turkey is adopting the same model that Gulf states with atomic ambitions such as the United Arab Emirates have used - relying on foreign talent and financing to build, operate and maintain their first plants as they seek to develop indigenous expertise. Turkey is working to establish universities and vocational colleges near Sinop, where the second plant will be located, with the aim of educating a new generation of nuclear engineers.


Business Sentiment Up, Consumer Confidence Down in September Analysis

Business Sentiment Up, Consumer Confidence Down in September

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Completion of Metro Line M3 Renovation Delayed City

Completion of Metro Line M3 Renovation Delayed


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.