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Latest News

Turkey’s Soyut mulls unit IPO, invests in Malaysia

The turbine factory will be built in Malaysia and have capacity to produce 40 megawatts annually-says official.

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February 23, 2011 2:06 by



Turkey’s Soyut Group, which has interests in energy, construction and finance, may apply to regulators in November to list shares in its investment unit, a company official said on Wednesday.

The investment unit will own shares in all Soyut Group companies, Ali Colak, a member of the Soyut Enerji board, told Reuters in an interview. Ankara-based Soyut Group had revenues of 65 million lira in 2010, he added.

Colak also said Soyut Enerji, a wind turbine maker, and Malaysia’s Melewar Industrial Group  plan an initial investment of 30 million euros in a production plant.

The turbine factory will be built in Malaysia and have capacity to produce 40 megawatts annually, Colak said.

(Reporting by Evrim Ergin; Editing by Hans Peters)



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