THE CEOS’ 2017 SCENARIOS

ALARKO HOLDİNG: Now is the time to produce

Alarko Holding’s CEO Ayhan Yavrucu said, “Turkish business people have the power of fighting in their DNA,” and interpreted the rise in the dollar’s exchange rate as, “In any case, this was the level it had to be.” He cannot abstain from regretting the fact that if the correct tax policies were applied when land prices were soaring in Istanbul and if both funds for social development were created and if the investment that would flow to industry was prevented from slipping to real estate… Alarko’s new investment projects are: TL 780 million investment in the energy sector, a new hotel in the TRNC in tourism, refinery projects pursued, a US$ 800 million road project in Kazakhstan. Yavrucu who pointed out that with its dynamism Turkey was obliged to make investments said, “How are we going to provide work for this young population? It is impossible to develop without industrialization. This is not possible with shopping malls, we must produce. Turkey has to turn to an industrialization policy because that is where the future of Turkey is.” Ayhan Yavrucu said that the dollar exchange rate has attained the level it had to and underlines that Turkey can now go on attack in production.

Alarko was behind its targets in contracting but there is hope for 2017. “I think that petrol prices will increase. A growth trend, though slow, is developing in the world. It appears that the growth in the USA will be lasting. It’s true that China is not developing like it used to but India started to develop rapidly. We think that this will increase the demand for raw materials. No doubt this is not good with regard to our balance of payments but favorable with regard to contracting. Therefore, I am more hopeful regarding foreign jobs. We are pursuing a few refinery projects abroad and I think we will get at least one of them. We have an important road project in Kazakhstan, about US$ 800 million dollars.”

"IT WON’T DISRUPT THE PROGRAM IN INVESTMENT

The energy and tourism investments are challenging: “We have invested approximately TL 250 million in distribution in 2016. We foresee an investment of TL 280 million in distribution in 2017. An investment of TL 650 million in production has been completed at the Karabiga coal power station. We will make an investment of approximately TL 500 million in 2017 and both units will go into operation this year. Our solar energy investments in Konya are ongoing, we have attained 30 MW and are moving towards 100 MW. We will assess other opportunities if they come up. We will not disrupt our programs in investments. We are going to invest at our Hillside Karpaz Hotel in 2017. We have completed the license phase,” said Yavrucu and continued, “2017 will be a year to be careful in. It will be a year in which the captain must always be awake. There can be times when he should manoeuver, stop, increase speed. The world will continue with lots of money for at least two years. No one should expect this money to be pulled immediately. Not as long as you give the impression that you are a safe port. If we can accomplish this, Turkey is at the top of the list of the most important countries to make investments.”