Istanbul-based Tera Holding has signed a cooperation agreement with U.S.-based investment and project development company White Bridge Global to establish a joint venture company in Dubai, the firms said Tuesday.
The companies inked a comprehensive cooperation deal aiming for collaboration in many strategically important sectors such as finance, investment, technology, energy and mining, Tera Holding said in a statement late Tuesday.
The signing ceremony held in Istanbul was attended by Tera Holding Chairperson Emre Tezmen, White Bridge Global Chairperson Gentry Thomas Beach, senior executives from both companies, members of the press and invitees.
As part of the cooperation, the parties plan to establish a Dubai-based venture company with a 50-50 partnership model. This joint venture will focus on strategic areas such as data centers, energy investments, oil and mining.
Dynamics such as advanced digital infrastructures, increasing energy demand and sustainable resource management will be used as strategic elements for the development of the Turkish and regional economy. Venture investments will focus on digital transformation, energy efficiency, infrastructure modernization and sustainable growth.
Making evaluations regarding the cooperation at the signing ceremony, Tezmen stated that the new partnership was founded on the philosophy of strategic investment focused on creating value.
“The strategic partnership we have established with White Bridge Global has the potential to shape the future of not only the two companies but also the industries and geographies in which we operate. In the new economic order where borders are gradually blurred and digitalization gains momentum, sustainability, technology and infrastructure investments are more critical than ever. I have full confidence that we will undertake sustainable, innovative and high-impact projects with this strong synergy,” he stated.
Beach, for his part, said that this collaboration has a global perspective and that they aim to create long-term value in every field invested in.
“Thanks to Tera Holding’s visionary approach, operational experience and financial strength, we will make a difference in a wide range from digital infrastructure to energy, from natural resources to next-generation technologies,” he said.
Tezmen, meanwhile, as part of his remarks to the media, also evaluated the potential in relations between the U.S. and Türkiye under the Trump administration.
“With the new administration in the U.S., there is a serious change in the perspective towards Türkiye. Currently, Türkiye is seen as a very important partner by the American administration,” he said.
Noting that Tera plans to invest around TL 5 billion (around $131.2 million) in the next 12 months, Tezmen said that these investments will be in the fields of technology and finance and that they will also make acquisitions.
On the other hand, Beach, in his remarks to Turkish daily Sabah, also pointed to the “new season and new era” in relations between Ankara and Washington.
“Türkiye is an important partner in this region and globally,” he said.
“You’ve seen President Trump’s very positive comments about President Erdoğan lately. President Trump loves strong leadership, he loves strong leaders, and President Erdoğan is an excellent leader,” he added.
Stating that the first areas they will invest in Türkiye with Tera Holding will be energy and banking, Beach said: “I think both of these areas are very important. We need local partners and local expertise in investments. We need to transform Türkiye into a production center. This is much more important for us today. The reason for this is the reaction against China. I see Türkiye stepping in to fill the production gap that is moving away from here.”
“On the other hand, I think it is a partner that can be trusted, has the right location and the right experience. I see that you can produce at U.S. and European quality at Chinese prices. However, energy costs need to be reduced. Türkiye has an incredibly qualified energy minister,” he concluded.
