Turkish companies signed memorandum of understanding to build a part of a liquefied natural gas, LNG plant in the north pole, said the company in a press release on Tuesday.
According to the statement, Ronesans and GAMA Holding will create a joint venture called REGA,to build the LNG facility.
The Yamal LNG project, located in Sabetta town inYamal peninsula of Russia, will be finished in two years.
It is expected tohave 5.5 million tons of natural gas capacityannually.
"The REGA consortium will build the so called CWP3B part of the Yamal LNG facility.The Yamal peninsula alsohas a strategic importance to increase Russia's natural gas production," said the statement.
Ronesans made$1 million worth deal all over the world in 2015.
The company has $500 millionannual return, according to statement.
Ronesans Holding is a group of companies specialized in construction, real estate, investment, energy production, health and education sectors.
Ronesans Holding established an energy company, named as REN in 2007 and has signature on the 10 hydroelectric power plants in Turkey.
(Anadolu Agency)
