Turkey secures 2.4 bln euro green financing for rail to Azerbaijan's Nakhchivan
Finance Minister Mehmet Simsek reposted the article by Anadolu on his X account and said the financing will strengthen Turkey's infrastructure, competitiveness and efficiency.
Turkey signed the agreement with a group of lenders led by Japan's MUFG Bank, Anadolu said, adding the package is backed by Sweden's EKN and Austria's OeKB export credit agencies, as well as an unit of Islamic Development Bank.
The project is part of Turkey's broader infrastructure strategy and expected to enhance regional trade and connectivity while supporting green transition goals, Anadolu said.
($1 = 0.8557 euros)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
6 hours ago
- Reuters
Meta to share AI infrastructure costs via $2 billion asset sale
Aug 1 (Reuters) - Meta Platforms (META.O), opens new tab is pressing ahead with efforts to bring in outside partners to help fund the massive infrastructure needed to power artificial intelligence, disclosing plans in a filing on Thursday to offload $2 billion in data center assets as part of that strategy. The strategy reflects a broader shift among tech giants — long known for self-funding growth — as they grapple with the soaring cost of building and powering data centers to support generative AI. The social media giant said earlier this week that it was exploring ways to work with financial partners to co-develop data centers to help finance its massive capital outlay for next year. 'We're exploring ways to work with financial partners to co-develop data centers,' Meta Chief Finance Officer Susan Li said on a post-earnings conference call on Wednesday. While the company still expects to fund much of its capital spending internally, some projects could attract 'significant external financing' and offer more flexibility if infrastructure needs shift over time, Li said. The company did not have any finalized transactions to announce, she said. The disclosure in Meta's quarterly filing, however, signals that plans are firming up. In its quarterly filing on Thursday, Meta said it had approved a plan in June to dispose of certain data center assets and reclassified $2.04 billion worth of land and construction-in-progress as "held-for-sale". These assets were expected to be contributed to a third party within the next twelve months for co-developing data centers. Meta did not record a loss on the reclassification, which values the assets at the lower of their carrying amounts or fair value less costs to sell. As of June 30, total held-for-sale assets stood at $3.26 billion, according to the filing. Meta declined to comment for this story. CEO Mark Zuckerberg has laid out plans to invest hundreds of billions of dollars into constructing AI data center 'superclusters' for superintelligence. 'Just one of these covers a significant part of the footprint of Manhattan,' he said. The Instagram and WhatsApp owner on Wednesday raised the bottom end of its annual capital expenditures forecast by $2 billion, to $66 billion to $72 billion. It reported stronger-than-expected ad sales, boosted by AI-driven improvements to targeting and content delivery. Executives said those gains were helping offset rising infrastructure costs tied to its long-term AI push.
Reuters
10 hours ago
- Reuters
Turkey, Italy and Libya leaders discuss Mediterranean migration route, cooperation
ANKARA, Aug 1 (Reuters) - The migration route from Libya across the Mediterranean, used by thousands seeking a way to get to Europe, was a top issue at a meeting on Friday between the leaders of Turkey, Italy and Libya in Istanbul, Turkey's presidency said. President Tayyip Erdogan met Italian Prime Minister Giorgia Meloni and Libyan Prime Minister Abdulhamid al-Dbeibah to discuss migration and other potential cooperation areas. "Erdogan pointed to the importance of the cooperation between the three countries against the tests that the Mediterranean basin is facing, including irregular migration flows," the presidency said in a statement. He added that "long-term and sustainable solutions" were needed to stop such migration flows, and that a multilateral coordination was needed to achieve this, it said. Major energy exporter Libya, long split between rival eastern and western factions, is one of the main jumping off points for migrants crossing the Mediterranean from North Africa. Rival regional powers - Russia, Turkey, Egypt and the United Arab Emirates - have also been drawn into its political divisions. NATO member Turkey has militarily and politically supported Libya's Tripoli-based internationally-recognised government. In 2020, it sent military personnel there to train and support its government and later agreed a maritime demarcation accord, which has been disputed by Egypt and Greece. In 2022, Ankara and Tripoli also signed a preliminary accord on energy exploration, which Egypt and Greece also oppose. NATO allies Turkey and Italy meanwhile have strong ties, and have pledged to boost cooperation in the defence industry, while also increasing their reciprocal trade. Italy's Leonardo ( opens new tab and Turkey's Baykar announced in March that they were setting up a joint venture to produce unmanned aerial vehicles, while Ankara has been inching closer to securing a procurement of 40 Eurofighter Typhoon fighter jets from a consortium that includes Italy. Erdogan's office also said the three leaders agreed to meet to evaluate any decisions taken by their cooperation committees later.
The Independent
12 hours ago
- The Independent
After centuries, Italy might finally build a bridge to Sicily
Italy expects to green-light construction on a long-awaited bridge to Sicily next week. The 2.2-mile-long Strait of Messina suspension bridge would connect Calabria in mainland Italy and the Sicilian city of Messina. An unnamed source told Prime Minister Giorgia Meloni has allocated €13.5bn (£11.8bn) to build the Strait of Messina bridge since taking office in 2023. The bridge has been an ambition since the Romans supposedly proposed the overpass. Construction will be led by the Italian company Webuild and overseen by the Messina Strait company. On Tuesday (29 July), final designs for the bridge over the Strait of Messina and accompanying contract documents were approved by the board of directors. With a maximum capacity of up to 200 trains per day and 6,000 vehicles per hour, the suspension bridge is scheduled for completion in 2032. 'The updated value of the investment, following the finalisation of the additional agreements with all the various contractors, remains confirmed at €13.5 billion, fully covered by the 2025 Budget Law and the capital increase of the Stretto di Messina railway company signed in 2023,' said the Messina Strait company. An economic planning committee meeting to approve bridge plans is expected to convene by 7 August, reported Reuters. Webuild said that approval from the committee will allow preliminary land expropriations, utilities diversions and geological surveys to begin.
