Tekfen Construction Signs Strategic Co-operation Deal in Azerbaijan

A meeting between Tekfen Construction General Manager Levent Kafkaslı and Azerbaijan's Deputy Energy Minister Samir Veliyev at the 25th Caspian Oil and Gas Fair saw the signature of a letter of intent foreseeing strategic co-operation over the development of renewable energy projects.

Tekfen Construction has been active in Azerbaijan since 1996, and to date has completed a large number of projects in the energy field with regard to oil and gas, having built pipelines, oil and natural gas terminals and offshore platforms as part of the Baku-Tbilisi-Ceyhan crude oil pipeline and Stages 1 and 2 of the Shah Deniz Project.

Widening the scope of its portfolio is a strategic priority for Tekfen Construction, and one of the practical steps it has taken in pursuit of this goal is to take on a more active role in the field of renewable energy. The signature of the deal with the Azerbaijan Energy Ministry on 29 May 2018 is of great importance in this context.

At the signing ceremony, Tekfen Construction General Manager Levent Kafkaslı said the following with regard to the signature of the letter of intent: "We have been doing business with Azerbaijan since 1996, and over the years have continually made significant contributions to the country's economic development. With the signature of this letter of intent, we plan to widen the scope of our various co-operations in the region to include renewable energy projects. Azerbaijan is rich in natural energy resources, and the fact that the country aims to invest in the field of renewable energy - in accordance with its vision of a sustainable future - represents an important opportunity for Tekfen Construction since we ourselves intend to take initiatives in this field. We hope to be able to identify areas of potential investment and carry out feasibility studies together."