Qatari energy firm to invest $14bn in Turkey

Qatari energy company Nebras Power is thinking about investing $14 billion to develop Turkish coal mines in the Afisn and Elbistan areas southeast of Ankara, according to company officials who are currently in talks in with the Turkish government.

The venture would be one of the region’s largest energy projects in terms of size and cost, Qatar’s Al-Sharq newspaper quoted Nebras Power CEO Khalid Jolo as saying.

Along with developing coal mines, the project would aim to build coal power plants able to generate 4,500 megawatts of electricity, he said.

“Nebras Power and Qatar Holding, in cooperation with some of the world’s most experienced developers in this field, have begun working on project feasibility studies,” Jolo added.

He went on to say that the company was also in talks “with international banks that are interested in financing the project.”

Nebras Power is a joint venture between Qatar Electricity and Water Company (60 percent); Qatar Holding LLC, which is owned by Qatar’s sovereign wealth fund (20 percent); and Qatar Petroleum International (20 percent).