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Enka Will Bid for Natural Gas-Fired Plants in Egypt, Oman

April 5 (Bloomberg) -- Enka Insaat & Sanayi AS, Turkey’s biggest builder, will bid for natural gas-fired power plants in Oman and Egypt as it seeks to expand in the region, said Tahsin Kosem, a board member of Enka’s energy unit.

The result of the auction to build the 1,500 megawatts plant in Oman may be announced next week, Kosem said in an interview in Adapazari in northwestern Turkey today. The Egyptian plant may have a capacity of 1,500 megawatts, he said without providing further details.

Turkish builders including Enka are investing in the Middle East, mirroring Prime Minister Recep Tayyip Erdogan’s policies of closer trade ties with neighbors where economic growth beats averages in the European Union.

Enka rose as much as 1.6 percent on the Istanbul Stock Exchange, reversing an earlier decline of 1.1 percent. The share climbed 0.3 percent to 6.20 liras at 5:30 p.m., when trading on the bourse closed.

General Electric Co. wants Enka to be an engineering and building partner for power plants, Yavuz Aydin, Turkey and Israel director for GE’s energy services unit, also said in an interview in Adapazari.

To contact the reporter on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net.

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