The Türkiye Wealth Fund is in discussions with international partners over a potential $10 billion petrochemical complex, signalling a push to anchor major industrial projects in the country. Chief executive Arda Ermut shared the update while addressing business leaders in Istanbul on Wednesday.
He said negotiations with global companies are ongoing and could lead to either a partnership structure or an industrial cluster model. Moreover, Ermut noted that preparatory steps, including land acquisition and environmental assessments, have already been completed. These measures, he added, strengthen Türkiye’s position as talks progress. “We want to move forward with the right partners at the right time,” he said, adding that the fund will determine the next phase after evaluating potential collaborators.
Overseas partnerships and export-focused investments
In addition, Ermut highlighted the fund’s readiness to expand investments abroad when market conditions align. He pointed to cooperation agreements with sovereign investors in Abu Dhabi and institutions in Hungary, Oman, and China. The strategy includes creating joint investment vehicles to finance projects in partner countries and third markets.
Since its launch in 2016, the fund has broadened its footprint across strategic sectors such as finance, energy, transport, and telecommunications. It has also backed mining and export-oriented industries to support long-term growth. Furthermore, Ermut revealed that talks are underway with an international investor to establish a vehicle targeting Turkish firms with strong export potential.
Overall, the fund positions itself as a strategic investment arm aimed at mobilizing capital, strengthening key sectors, and advancing Türkiye’s economic development through large-scale, value-driven projects.
