History

Founded in March 18, 1994 to operate in textile business under the commercial title of Park Tekstil Sanayi ve Ticaret A.Ş., the company changed its commercial title and Articles of Association to include energy and mining among operational areas.

The Company, engaged in coal-extracting and washing activities in the course of transition period until 2006, started to produce concentrate copper in Siirt in 2006. Between 2009 and 2014, Park Elektrik produced asphaltite is Silopi upon its merger with Ceytaş Madencilik Tekstil Sanayi ve Ticaret A.Ş. The asphaltite operations were transferred to Silopi Elektrik Üretim A.Ş. in March 2014; so the asphaltite production was discontinued.

The company’s core business was copper mining for eleven years between 2006 and 2017, when it sold its copper assets to Cengiz İnşaat Sanayi ve Ticaret A.Ş. for 195 million USD + VAT. Following its sale of copper assets, Park Elektrik purchased 100% share of Konya Ilgın Elektrik Üretim San. ve Tic. A.Ş. from Park Holding A.Ş. for 150 million USD + VAT.

Konya Ilgın has a strategic project to establish a 500 MWe thermal power plant in Konya in central Anatolia. The company also has the operational rights of coal reserves in the same zone until 2043. There is 138 million tons of mineable lignite reserves in the zone with an average calorific value of 2069 kcal/kg.