Sabancı sees opportunities in Turkish energy sector
Posted by meb at January 24th, 2008
The chairwoman of Sabancı Holding has said Turkey has great potential and opportunities in the energy sector. Sabancı participated in a live program broadcast Wednesday on the Bloomberg TV station in Davos, where she had traveled for the World Economic Forum annual meeting.
The third-generation member of the renowned Sabancı family said Turkey has great potential in the energy sector, adding that her company is doing its utmost to make the best use of this potential. “We are doing our best to evaluate this potential with our partner Verbund [the largest producer and transporter of electricity in Austria],” she noted.
Sabancı also said her holding has recently obtained a license for hydroelectricity production and will soon start investing in this field. “Turkey’s promising potential in the energy sector proves that we have oriented toward the right field,” she stated.
Meanwhile, Coca-Cola Co., the world’s largest soft drink company, noted that there is a greater than 50 percent chance that the United States will face a recession. However, Coca-Cola CEO E. Neville Isdell told Reuters on Wednesday that emerging markets would continue to power ahead, softening the impact on a global basis and averting a worldwide slump.
“I think there is certainly better than a 50 percent chance that the US is headed into a recession,” he said, speaking on the sidelines of the meeting in Davos.
“But does this signal we are going to have significant contagion around the world, which means we are going into a global recession? I don’t believe that is the case,” he noted, saying what we are going to see is some rebalancing in the global economy because the importance of the developing world is going to increase.
source: Today’s Zaman
Related posts: