Turkey's state-owned energy companies are expected to make around TL 8.4 billion ($1.48 billion) of investments next year, a presidential decree revealed yesterday.

Some 61 percent of the investment target of TL 13.8 billion for the next year to be carried out by Government Business Enterprises (KİT) is expected to be made in the energy sector, the decree said.

According to the decree published on the Official Gazette, a total of eight energy companies will make these investments.

The companies include, Eti Mine, TKİ - Turkish Coal Enterprises, TTK - Turkish Hard Coal Enterprises, EÜAŞ - Electricity Generation Company, BOTAŞ - Petroleum Pipeline Company and TEİAŞ - the power transmission company.

The General Directorate of State Railways of the Republic of Turkey (TCDD) will lead the way among public companies and is expected to invest around TL 3.9 billion next year.

TCDD will be followed by BOTAŞ with some TL 3.7 billion, TEİAŞ with nearly TL 2 billion, Turkish Petroleum Corporation (TPAO) with TL 1.26 billion and EÜAŞ with TL 851 million.

ETİ is expected to invest around TL 318.55 million, followed by TTK with TL 112 million and TKİ with TL 94.88 million.