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The facility will generate 118mn kWh of electricity annually. It will be purchased by the Ukrainian state for 10 years at 10-euro cent/kWh.
Guris is targeting installed capacity in Ukraine of 220MW with additional investments.
It additionally plans to build a 25MW wind power plant in Belarus and a 30MW wind power plant in Albania, said Cem Ozkok, the deputy general manager of the Turkish conglomerate.
The company is also interested in wind power investments in Greece, Moldovia and Montenegro, according to Ozkok.
Guris is also active in the construction, mining and tourism sectors.
9.2.9 Metallurgy & mining corporate news
● Erdemir
Turkish steelmaker Erdemir, Turkey’s number one steel producer, endures rough August partly on British Steel acquisition worries. Slumping prices faced by steelmakers as well as investor concern about the planned acquisition of British Steel by Erdemir’s largest shareholder made it one of the worst performing Turkish blue-chip stocks in August, Bloomberg wrote on September 3.
It added in its report: “Now, analysts are watching for signs of a rebound. Shares of Eregli Demir & Celik Fabrikalari TAS, as Erdemir is formally known, fell 14% in August, making the stock the second-biggest loser in the Borsa Istanbul 30 Index, a grouping of the most-followed companies in Turkey, after Yapi Kredi Bankasi. Declining steel prices and the prospect of further margin weakness have weighed on the stock, like most of its global peers.”
The shares on September 3 extended gains to three sessions, trading at Turkish lira (TRY) 6.45, after falling to a 52-week low of TRY6.08 on August 22.
The company is working on dispelling fears that its shareholder’s acquisition of British Steel will have spillover effects on the company. “The purchase isn’t supposed to impact Turkey’s top steel producer nor have any tangible effect on the stock’s performance, but the news has preoccupied investors, with tough times ahead for an industry in the midst of global trade conflicts.”
Ataer Holding, a subsidiary of the Turkish military’s pension fund Oyak, which owns 49% of Erdemir, has been made the preferred bidder for UK number two steelmaker British Steel, which entered into liquidation in May.
Oyak insists that the bid for British Steel won’t have any impact on Erdemir and that it has no plan to merge the steelmakers.
Cemal Demirtas, an analyst at Ata Invest, was cited as saying: “This
102 TURKEY Country Report October 2019 www.intellinews.com