Skip to content Skip to Search
Skip navigation

Turkey looks to Russia to build second nuclear power plant

Turkey's energy and natural resources minister Alparslan Bayraktar Alparslan Bayraktar/X
Turkey's energy and natural resources minister Alparslan Bayraktar

Turkey hopes to expand its partnership with Russia’s state-owned Rosatom to develop its second nuclear power plant in Sinop on the southern coast of the Black Sea, a senior government official has said.

The Russian company is working on the country’s first Akkuyu nuclear power plant (NPP) in Mersin province on the Mediterranean coast. The project cost is estimated at $20 billion. 



“We have a great potential for renewables and energy efficiency, but we absolutely need to add nuclear energy into our energy mix,” energy and natural resources minister Alparslan Bayraktar said in a speech at an energy event in Sochi, Russia, according to a report in the Daily Sabah newspaper.

The construction of four reactors in the Akkuyu NPP will generate 7.2 gigawatts (GW) of nuclear capacity by 2035 and 20 GW by 2050, the minister said.  

The country’s nuclear energy targets are compatible with global nuclear energy targets, he said. Turkey aims to reach its decarbonisation goal by 2053.

Bayraktar also disclosed that the government was negotiating with China to establish the third nuclear plant in Thrace province. 

“We need to pass the agreement phase and move on to the construction,” the report said, citing the minister. 

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]

Car, Transportation, Vehicle

Dubai Taxi to pay $43m dividend despite profit drop

Dubai Taxi Company, a subsidiary of the emirate’s transport regulator, has approved a dividend payout of AED159 million ($43 million) for the first half of 2024 despite a marginal 1 percent increase in net profit. Net earnings reached AED187.4 million in the first six months of the year, compared to AED186.3 million at the same […]