Turkish industrial giant eyes Zim


A MULTI-BILLION Turkish company, Çukurova Group, is set to visit Zimbabwe soon to explore investment opportunities, an official has said.


The Confederation of Zimbabwe Industries (CZI) chief executive officer, Clifford Sileya revealed, in a letter to the association’s members, that they had received communication from a leading Turkish company interested in visiting the country to explore investment opportunities.

“It has come to our attention that Zimbabwe, through the Zimbabwe Investment Authority, has received communication from a leading Turkish company that is interested in visiting the country in order to explore investment opportunities,” Sileya said.

Çukurova Group is one of the leading companies in Turkey and capitalises on business opportunities at domestic and international levels.

Established in 1923 as a textile mill in Tarsus, Çukurova quickly grew into a conglomerate within the industrial sector especially in textiles and construction machinery sectors.

Sileya said, as the group progressed, it discovered that further penetration into other sectors was necessary to meet its ambitious strategic targets.

As such, the group has expressed interest in sectors such as energy (gas, oil); industry (automotive, chemicals and textiles); ICT; construction; infrastructure; banking and finance; media; and private sector projects.

“It is against this background that we kindly implore members with projects requiring funding/investment and who might be interested in meeting the Turkish group to provide information as per attached templates,” he said.

Çukurova Holding AS with its associated companies is one of Turkey’s largest business conglomerates. The ultimate beneficiary owner is Mehmet Emin Karamehmet.

In the FY2013, the group had employed a total of 31 800 people extending over 156 companies. Revenue including its subsidiaries amounted to $2,7 billion and the company had total assets valued at $9,7 billion.

Zimbabwe has cordial relations with Turkey. In June, Foreign Economic Relations Board of Turkey (DEiK) and the CZI signed a memorandum of understanding to allow trade between the two countries to flourish.

DEIK has promised to ensure that global carrier, Turkish Airlines, fly to Harare by next year.