Hitachi Energy, a Swiss-based supplier of power technology and electrification, has announced its plans to invest $70 million in Türkiye to expand its transformers manufacturing capacity. This investment is a testament to the company’s commitment to the country and its growing energy sector.
The announcement was made by Hitachi Energy’s CEO, Toshiaki Higashihara, during a press conference held in Istanbul. He stated that the investment will enable the company to meet the increasing demand for transformers in Türkiye and the surrounding regions. This expansion will also create job opportunities and contribute to the country’s economic growth.
Hitachi Energy has been operating in Türkiye for over 50 years and has established itself as a leading supplier of power technology and electrification solutions. The company has a strong presence in the country and has been actively involved in various energy projects, including the construction of power plants and transmission lines.
The decision to invest $70 million in Türkiye is a strategic move by Hitachi Energy to strengthen its position in the market and support the country’s energy goals. Türkiye has been experiencing rapid economic growth, and its energy demand is expected to increase by 5% annually. This investment will allow Hitachi Energy to cater to this growing demand and provide reliable and efficient power solutions.
The expansion of Hitachi Energy’s transformers manufacturing capacity will also have a positive impact on the local economy. The company plans to hire more than 200 new employees, including engineers, technicians, and other skilled workers. This will not only create job opportunities but also contribute to the development of the local workforce.
Moreover, Hitachi Energy’s investment will also have a ripple effect on the supply chain, benefiting local suppliers and businesses. The company has a strong commitment to sourcing materials and services locally, which will further boost the country’s economy.
The announcement of this investment has been welcomed by the Turkish government and industry leaders. The Minister of Energy and Natural Resources, Fatih Dönmez, expressed his appreciation for Hitachi Energy’s confidence in Türkiye and its commitment to the country’s energy sector. He also highlighted the importance of such investments in achieving the country’s energy goals.
The Chairman of the Turkish Industry and Business Association (TÜSİAD), Simone Kaslowski, also praised Hitachi Energy’s decision to invest in Türkiye. He stated that this investment is a clear indication of the country’s attractiveness to foreign investors and its potential for growth.
Hitachi Energy’s investment in Türkiye is not only a testament to the country’s economic potential but also its stable and investor-friendly business environment. The government’s efforts to improve the investment climate and attract foreign investments have been successful, and this investment by Hitachi Energy is a result of those efforts.
In conclusion, Hitachi Energy’s decision to invest $70 million in Türkiye to expand its transformers manufacturing capacity is a significant development for the country’s energy sector. This investment will not only support the country’s growing energy demand but also contribute to its economic growth and development. Hitachi Energy’s commitment to Türkiye is a testament to the country’s potential and its attractiveness to foreign investors. With this investment, Hitachi Energy is set to play a crucial role in the country’s energy transformation and contribute to its journey towards a more sustainable future.