Akkuyu nuclear plant gets TL 76B in incentives

The Akkuyu Nuclear Power Plant (NPP) project will receive investment incentives exceeding TL 90 billion ($23.55 billion). The Akkuyu NPP will be provided investment support of TL 76 billion, including a tax exemption, according to the November list of investment incentive certificates issued by the Economy Ministry published in the Official Gazette. The project will also be provided with imported machinery and equipment support of $4.5 billion. Thus, the investment incentive for the project will exceed TL 90 billion.

The Akkuyu NPP project is expected to provide 2,746 jobs in the first phase, the November investment incentive list says. Meanwhile, of the 639 investment incentive certificates issued in November, 115 are related to the energy and mining industries.

Russia's State Atomic Energy Corporation, Rosatom, plans to build Turkey's first nuclear power plant in the southern province of Mersin on the Mediterranean coast. The plant plans for the first reactor to be operational by 2023, and the plant is expected to be up and running at full capacity by 2025.

Construction of the Akkuyu NPP will start at the end of this year or the beginning of next year at the latest, Energy and Natural Resources Minister Berat Albayrak has said.

The fixed investment amount for projects receiving the certificate is TL 77 million. Of 115 incentive certificates given to energy and mining investments, 106 are for new investments.