Mitsubishi Corp invests in Turkey's Çal?k to win the region's energy business

Mitsubishi Corp., Japan?s largest trading house, said it will buy shares in and exchange personnel with a unit of Turkish conglomerate Çal?k Holding, as it seeks to win more energy and infrastructure orders in Central Asia and the Middle East.

?Mitsubishi Corporation is pleased to announce that it has entered into a strategic alliance with Çal?k, one of leading conglomerates in Turkey, and Çal?k Enerji, a subsidiary of Çal?k, which includes the acquisition of shares in the energy unit and exchange of personnel,? the company said in an online statement June 4. 

Mitsubishi?s goal is to boost orders for infrastructure in the energy, power and other sectors in fast-growing economies such as Turkey and its surrounding countries, including in northern Africa, according to the company.

The partnership between Çal?k and Mitsubishi Corp. dates back to the 1990s, when the two companies started collaborating on a number of plant construction projects in Central Asia, according to the statement.

Last year, Mitsubishi Corp. teamed up with another Çal?k subsidiary, Gap ?n?aat, which specializes in construction, to secure the order for constructing a $1.3 billion dollar fertilizer plant in Turkmenistan. 

?Working together to execute these projects throughout the region has enabled Mitsubishi Corp. to build strong ties with Çal?k,? the company added. 

Çal?k has business operations in many industries, including textiles, energy, construction and finance. Both Çal?k Holding and its energy unit are chaired by its founder, Ahmet Çal?k.