Word: plant
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...remaining state-owned banks, Halkbank, was supposed to be next on the block, but the government dithered over how to sell it, and now, because of the worldwide financial turmoil, it can't - at least, not for a good price. A September tender for a new nuclear power plant - Turkey's first - was ill-prepared, and turned into a fiasco when all the bidders except for one Russian-led consortium dropped out. A three-year agreement with the IMF under which it would provide Turkey loans of as much as $10 billion, if needed, expired in May and hasn...
...Just outside the town is a state-of-the-art coal-fired power plant built by the German utility Steag, which alone provides about 5% of Turkey's electricity. When it started operations in 2003, the $1.5 billion plant was the biggest single foreign investment in the country. In nearby Isdemir, a giant steel mill built in the 1970s by Russian engineers using Soviet technology is undergoing massive renovation. Some 18,000 workers used to produce just over 2 million tons of steel here; now about 6,000 people produce almost three times as much - and the plant consumes less...
...biggest changes is to be found in Bursa, a 90-minute boat ride from Istanbul across the Marmara Sea. Just outside the old town is a sprawling Renault plant that dates back almost four decades. During the first years of its operation, the factory produced small cars for the Turkish domestic market - models that were already at the end of their life in Western Europe. But since 2000, Renault has used the Turkish plant as a significant export hub. It makes Renault's Mégane and Clio cars there for the rest of Europe, and has been upgrading...
...Turkey's oddities that the Steag plant, the Isdemir steel factory and the Renault plant are either joint ventures with or wholly owned by an organization called OYAK, which is the military's professionally managed pension fund. Unusually for a pension fund, OYAK directly owns and operates major sectors of the Turkish economy, and it has boomed along with Turkey these past six years. Indeed, OYAK is now the third largest business in the nation, behind the conglomerates owned by the Sabanci and Koc families. Its rapidly growing profits this decade have ensured that military officers now get substantial lump...
...lands and waters on a shocking scale. According to Vietnam's state media, thousands of large - and small-scale industries - discharge at least 33,000 cubic meters of waste into the Mekong River system every day. Midwife Le Thi Thanh Thuy, who lives a kilometer from the Vedan plant, tells pregnant women living along the Thi Vai River not to drink the water. Even some well water burns people's skin and isn't used to wash clothes. "They are so poor, they don't have enough money to buy rice," says Thuy. "So how can they buy water...