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Türkiye’s state-owned enterprises (SOEs), their subsidiaries, and companies under privatization are set to invest ₺679.4 billion ($22.7 billion) in 2026, according to a presidential decree published in the Official Gazette.
The decision covers 22 companies, including major energy, transport, and industrial enterprises, under what will be the largest collective public investment drive since 2018, with a non-interest budget deficit of ₺289.8 billion ($6.90 billion) projected for the year as part of a total borrowing requirement of ₺1.06 trillion ($35.5 billion).
Energy-related enterprises dominate the 2026 investment program, with planned outlays totaling about ₺473.6 billion ($11.28 billion)—roughly 70% of the entire public investment budget.
The Turkish Petroleum Corporation (TPAO) will be the top investor, with ₺332.6 billion allocated for oil and gas exploration and production projects.
Following TPAO, the Petroleum Pipeline Corporation (BOTAS) plans to invest ₺67.8 billion in natural gas and petroleum transmission networks, while the Turkish Electricity Transmission Corporation (TEIAS) and the Electricity Generation Company (EUAS) will allocate ₺60.2 billion and ₺10.6 billion, respectively, toward power grid and generation projects.
The Turkish Hard Coal Enterprise (TTK), Turkish Coal Enterprises (TKI), and Turkish Electricity Distribution Company (TEDAS) collectively account for a further ₺2.3 billion, alongside ₺72.7 million in investments from the Turkish Electromechanics Industry Corporation (TEMSAN).
The transportation sector ranks second, with combined investments of around ₺183 billion.
The Turkish State Railways (TCDD) leads this category with ₺113.1 billion, followed by its subsidiary TCDD Logistics with ₺38 billion, and the Rail System Vehicles Industry (TURASAS) with ₺11.1 billion.
The General Directorate of State Airports Authority (DHMI) is set to invest ₺21 billion to upgrade airport infrastructure.
Meanwhile, the agriculture and food sector—including entities such as the Turkish Grain Board (TMO), Turkish Sugar Factories (TSFAS) and the General Directorate of Tea Enterprises (CAYKUR)—accounts for approximately ₺18 billion in combined investment.
In the decree, companies are also instructed to focus on renewable and domestic energy projects, energy efficiency and cost-saving measures.
Additionally, they are required to review their information and communication infrastructure to enhance productivity.
Apart from cases specified by law, SOEs will have the autonomy to determine the prices of their goods and services, provided these remain consistent with the government’s economic program.
All state-owned enterprises covered by the decree will prepare their operational budgets within this framework and submit them to the Treasury and Finance Ministry as well as the Privatization Administration by Dec. 31.
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