Turkey, UAE sign deal for $12 bln Afsin-Elbistan deal

The Turkish and United Arab Emirates governments agreed to jointly develop Turkey's large coal fields in the Afsin-Elbistan region for power generation. The $12 billion deal may help Turkey diversify its supply. Speaking to reporters Energy Minister Taner Yildiz said "This is the second-biggest investment made in Turkey after the two nuclear power plant projects." Abu Dhabi-based TAQA and Turkey's state-run electricity company EUAS foresee the generation of some 85 million tons of coal annually, or 45 billion kWh every year. According to officials 15,000 people will be recruited during the construction phase and the facilities will provide jobs for more once finished. "The Turkish economy has been doing very well over the years, because you have a good investment climate. If you have a good investment climate, we'll come and invest," UAE Energy Minister Mohamed Bin Dhaen al-Hamli said at the signing ceremony.