The Türkiye Wealth Fund is in talks with international partners over a potential $10-billion petrochemical complex in Türkiye, its chief executive Arda Ermut has said, highlighting the fund’s ambitions to anchor large-scale industrial investments in the country.
Speaking at the Istanbul Chamber of Industry on Wednesday, Ermut said discussions with global companies were ongoing and that the project could advance either through a partnership structure or an industrial cluster model.
“We want to move forward with the right partners at the right time. Talks are ongoing,” he said, adding that land acquisition and environmental impact procedures have already been completed to strengthen Türkiye’s position in negotiations. “In the coming period, we will evaluate how to proceed with potential partners.”
Ermut also signalled the fund’s readiness to expand investments abroad when conditions are favourable, pointing to cooperation agreements with partners including sovereign investors in Abu Dhabi and institutions in Hungary, Oman and the Bank of China.
The strategy includes establishing joint investment vehicles to finance projects both in partner countries and in third markets.
Since its creation in 2016, the fund has expanded its holdings across strategic sectors including finance, energy, transport and telecommunications, while also investing in mining and export-oriented industries.
Ermut said the fund is currently negotiating with an international investor to launch a vehicle targeting Turkish companies with strong export potential, part of a broader push to channel capital into sectors expected to drive long-term economic growth.
Türkiye Wealth Fund is the strategic investment arm and the equity solutions provider of the Republic of Türkiye. It is an asset-backed development fund that focuses on the growth targets of its portfolio companies through value creation programmes, investments in key sectors and visionary projects to support the economic development in the country.
