The Türkiye Wealth Fund is in talks with international partners over a potential $10-billion petrochemical complex in Türkiye, its chief executive Arda Ermut has said, highlighting the fund’s ambitions to anchor large-scale industrial investments in the country.
Speaking at the Istanbul Chamber of Industry on Wednesday, Ermut said discussions with global companies were ongoing and that the project could advance either through a partnership structure or an industrial cluster model.
“We want to move forward with the right partners at the right time. Talks are ongoing,” he said, adding that land acquisition and environmental impact procedures have already been completed to strengthen Türkiye’s position in negotiations. “In the coming period, we will evaluate how to proceed with potential partners.”
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Ermut also signalled the fund’s readiness to expand investments abroad when conditions are favourable, pointing to cooperation agreements with partners including sovereign investors in Abu Dhabi and institutions in Hungary, Oman and the Bank of China.
