Imported Energy by Turkey to be Reduced

August 2, 2010

The Energy Ministry (Ministry of Energy and Natural Resources) in Turkey is in the centre of discussions with the South Korean electricity leader KEPCO (Korea Electric Power Corp) and Elektrik Uretim the State Power Producer for a nuclear power plant on the Black Sea.

It is vital for countries to be self-sufficient and independent as much as possible.

The negotiations are to last sometime but the end result will be very pleasing for Turkey as it will reduce its need for imported energy.

The power station is projected to be built around the region of Sinop and funded thirty percent by Korea Electric Power Corp and the Turkish Government.

It is hoped the seventy percent left is funded by borrowings with one contender being the Standard Chartered bank based in London. The Standard Chartered bank is also the allocated financial advisors of the project.

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