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Hitachi Energy Türkiye, the Turkish subsidiary of Japanese manufacturer of energy infrastructure equipment Hitachi Energy, secured up to $30 million in co-financing from the Japan Bank for International Cooperation (JBIC) and MUFG Bank Türkiye to support the relocation and expansion of its transformer manufacturing operations in Türkiye.
The loan is expected to support the relocation and expansion of the company’s transformer manufacturing facility, a key part of power transmission infrastructure in Türkiye.
Hitachi Energy had previously committed $70 million to expand its transformer operations in Türkiye, including a new production facility in the Izmit-Dilovasi Organized Industrial Zone.
JBIC provided up to $18 million of the total financing, while the remaining amount was arranged through MUFG Bank Türkiye, part of Mitsubishi UFJ Financial Group, according to a statement from the bank.
"The loan will support the expansion of Hitachi Energy’s production capacity for transformers, which are indispensable for building power grids, thereby contributing toward maintaining and improving the international competitiveness of the Japanese power infrastructure industry," the bank stated.
The planned 45,000-square-meter plant is expected to increase Hitachi Energy’s transformer production capacity by 70% and expand its workforce by 30%, with completion scheduled for 2026.
The new facility will replace the company’s existing plant in Kartal, Istanbul, relocating operations to a more advanced site with upgraded technology and safety standards.
Headquartered in Zurich, Switzerland, Hitachi Energy employs more than 50,000 people across around 60 countries and generates approximately $16 billion in annual revenue, according to information on its website.
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