Cargill, Samsung, and More: $2.4 Billion Investment Wave Sweeps Through Turkiye

The data from the Industry and Technology Ministry show strong investment appetitive with companies filing more than 1,900 applications for incentives in July.

Companies, including global firms such as Samsung and Cargill, applied for incentive certificates for 66.3 billion Turkish Liras ($2.4 billion) worth of investments in the month.

If those investments materialize, around 26,000 jobs will be created.

The planned investments include Samsung’s upgrading investment for its mobile phone facility in the northwestern province of Tekirdağ, Cargill’s greenfield investment in the province of Balıkesir and AGM Teknoloji’s application for the establishment of a phone manufacturing facility with an annual capacity of 2.5 million in the province of Kocaeli.

AGM Teknoloji will invest more than 600 million liras in the planned facility which will employ 150 people.

The data from the ministry showed that companies still want to go ahead with their plans to invest in the provinces which were hit in the February earthquakes, while large and small companies show strong interest in energy investments.

For instance, IC İçtaş plans to establish a 2.3 billion lira solar power plant in the Ezin district of the southern province of Hatay. Kalyon Holding applied for incentive certificate for the solar power plants it plans to set up in the provinces of Niğde,Şanlıurfa and Gaziantep. Kalyon will spend more than 8 billion liras on those energy investments.

Another energy firm Eksim plans two wind farm investments worth a total of 3.1 billion in Istanbul’s Silivri and Sakarya’s Geyve districts.

Cargill applied for a 600 million lira greenfield investment to build a factory in the Altıeylül district of the western province of Balıkesir to produce chemicals.

The ministry also received many applications for textile, apparel and yarn investments in the eastern and southeastern provinces.


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