World Bank Document
• INTERNATIONAL DEVELOPMENT ASSOCIATION 1818 H STREET, N.W., WASHIJ'.JGTON 25. 0. C. 'TELEPHONE: EXE"CUTIVE3-6360 Public Disclosure Authorized IDA Press Release No. G+/14 Subject: $24 million credit to Tui--key July 14, 1964 for electric power The International Development Association (IDA), an aft':iliate of the World Bank, today extended a credit equivalent to $24 million to Turkey to help finance a.n expansion program being carried out by the <;ukurova Electric Company. The pro gram will quadruple the Company's generating capacity and will increase the supply of power to the 9ukurova plain, an important agricultural region in southern Turkey, Public Disclosure Authorized and to Hatay Province, which contains Iskenderun, Turkey's most important Medi terranean port. The 9ukurova Electric Company, established in 1956, i~ the only power company -- in Turkey owned mostly by private shareholders; 56% of its stock is privately held, while the balance is owned by the Etibank, a governmental institution which plays a large role in Turke~'s electric ppwer industry. Public Disclosure Authorized The Company now supplies power to its service area on the 9ukurova plain from a single plant, the 36,000-kilowatt hydroelectric station on the Seyhan River near Adana. The plain lies between the Taurus mountains and the Mediterranean, and con tains the towns of Adana, Tarsus and Mersin. The region is characterized by a vigorous and rapidly expanding agricultural economy. Nearly a third of Turkey's cotton crop is grown here and processed locally in many yarn, textile and cotton seed oil mills. Over 70"/o of the Company' s power sales are to these and other processing industries.
[Show full text]