Baku, Azerbaijan, July 11
By Orkhan Guluzade – Trend:
The International Finance Corporation (IFC), which is a member of the World Bank Group, invested $215 million for the purchase of a share in Turkey’s Ronesans Holding, Hurriyet newspaper reported July 11.
Reportedly, the investment will help the Ronesans Holding strengthen its position in the global market and contribute to improvement of its competitive strength.
Ronesans Holding plans to expand its activities in Africa, Central Asia and Caucasus.
Established in 1993, Ronesans Holding furnishes services as the main contractor and investor in 21 countries throughout the world. Operating in such fields as construction, real estate development, energy and health, the holding is the 37th largest international contracting company of the world and the 10th largest contractor of Europe.
The holding’s assets reached $5.5 billion in 2015.
Ronesans Holding has invested in Turkey, Russia, Turkmenistan, Belarus, Kazakhstan, Azerbaijan, Iraq, Libya, Qatar, Saudi Arabia, Gabon, Nigeria, Algeria, Morocco, Mozambique, Germany, Austria, Finland and the Netherlands.
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