January 26, 2011 / 8:18 AM / 9 years ago

UPDATE 1-Turkey's Enerjisa to boost sales 28% in 2011

* 2011 revenue seen at 3.7 billion lira

* Investments this year seen at $1.3 billion

(Adds details, background)

ISTANBUL, Jan 26 (Reuters) - Enerjisa, a Turkish power producer run by Sabanci Holding (SAHOL.IS) and Austria’s Verbund (VERB.VI), plans to boost sales by 28 percent this year to 3.7 billion lira ($2.4 billion), Chairman Selahattin Hakman said.

The 2010 figure is 500 million lira short of the company’s target, Hakman told reporters late on Tuesday.

Enerjisa plans to invest 930 million euros ($1.3 billion) in 2011, part of a 5.5 billion euro target by 2015, he said.

So far, the company has invested 1 billion euros of that target, he said. Enerjisa, which controls the Baskent power grid in the capital Ankara, last year invested 100 million in distribution and in 2011 plans to spend 235 million lira.

Enerjisa plans to increase its market share in electricity production in the country to 4 percent this year, from 1.4 percent last year, he said.

The Istanbul-based company, which is not publicly traded, is interested in the government’s asset sell-off programme for both power plants and grids, Hakman said. Once Enerjisa raises its capacity to 2,500 megawatts, it could hold an initial public offering as early as next year.

Sabanci Holding, one of Turkey’s largest companies, also controls major lender Akbank (AKBNK.IS), retail chains and cement production. Hakman said Enerjisa accounted for 7 percent of parent Sabanci’s revenue last year. (Reporting by Evrim Ergin and Asli Kandemir; Writing by Ayla Jean Yackley; Editing by David Holmes) ($1=.7311 Euro) (seda.sezer@reuters.com; +90 212 350 7051; Reuters Messaging: seda.sezer.reuters.com@reuters.net))

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