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Turkey's Hema Enerji signed a 600 million euros deal with China's Datong Coal Mining to mine coal in northern Turkey, Mehmet Hattat, chairman of Hema Enerji's parent company told Reuters.
The deal was signed under a $3 billion energy project which envisages production of five million tonnes coal initially rising to 10 million tonnes a year and electricity generation. Hema Enerji aims to build two thermal power plants in the next three years with a total 1,350 megawatt eletricity production capacity, to rise later to 5,000 MW a year.
"We will go to partnership with the Chinese company in building electricity power stations like we did in coal production," said Mehmet Hattat, who is chairman of Hattat Holding, referring to Datong Coal Mining.
Hema Enerji has mandated US-based Blackstone to find loans to finance the Turkish company's power plant projects. Hattat also said that his company found natural gas reserves in northern Turkey in gas exploration it has been carrying out together with Toreador Resources Corp.

Copyright Reuters, 2008

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