Japan has struck a deal estimated to be worth more than $20 billion (£12.86bn) to build a new nuclear power station in Turkey.

Reports claim the Turkish Government will sign an agreement later today with the Japanese Government. The nuclear plant in the northern city of Sinop in the Black Sea is expected to produce 4.5 million kilowatts of electricity, with construction to start in 2017.

Turkey currently imports almost 97% of its energy needs and wants to boost its own generation capacity. The capital city Ankara is aiming to produce at least 15% of its electricity from nuclear by 2030.

The project, which will be the nation’s second nuclear plant, will be led by Mitsubishi Heavy Industries and French firm Areva and is expected to be operational by 2023, according to reports.