Borasco Elektrik, dealing with the production and trading of electricity, will set up an 890MW gas-fired power plant in Samsun at the Turkish Black Sea Coast and will sell the produced electricity on the Turkish market.

The power plant construction is expected to begin in 2008; the start-up shall take place in late 2010. The amount of money invested is estimated at approximately E500 million.

Werner Auli, OMV executive board member responsible for gas and power, said: The entry into the Turkish market is another important step in terms of the use of natural gas for power generation in addition to the projects in Romania and Germany. The Turkish electricity market has a strong growth rate of around 10% per year.