Mitsubishi Corporation signs Capital Alliance with Turkey’s Calik Enerji

Mitsubishi Corporation (MC) has recently announced that MC entered into a strategic alliance with Calik Holding (Calik), one of leading conglomerates in Turkey, and Calik Enerji Sanayi ve Ticaret A.S. (CE), a subsidiary of Calik that includes the acquisition of shares in CE and exchange of personnel.

The partnership between Calik and MC dates back to the 1990’s, when the two companies started collaborating on a number of plant construction projects in Central Asia. Last year, MC teamed up with another Calik subsidiary, Gap Insaat, which specializes in construction, to secure the order for constructing a 1.3 billion US dollar fertilizer plant in Turkmenistan. Working together to execute these projects throughout the region has enabled MC to build strong ties with Calik.

CE was spun out from Calik in 1998 to facilitate its expansion in Turkey and in neighboring economies experiencing rapid growth on the back of population increases and abundant mineral resources. CE’s growth has largely been the result of a business strategy focused on providing Engineering, Procurement and Construction (EPC) services to energy plants in these countries as well as its involvement in electricity and gas distribution businesses as well as in power generation.

Under ew strategic direction, the company’s current corporate strategy released in 2013, MC is working to enhance its regional development activities in an effort to more effectively capture growth in the global economy. By leveraging this strategic partnership with Calik and with CE, MC is seeking to expand its businesses in infrastructure sector including energy, power and other sectors in fast growing economies such as Turkey and its surrounding countries in Central Asia, the Middle East and North Africa.