Firms from Gulf to invest in Turkey's Elazığ

Published 14.03.2019 00:36

As the Gulf capital's interest in Turkey continues, Qatar's Flora Group will invest in a joint factory with Turkish electric engine manufacturer Sezgin Motor.

As part of the agreement, the Qatari company will bring both capital and technology to Turkey. The foundation of the Bader Motor Technology Factory, which was established jointly by Sezgin Motor and Qatar's Flora Group with an investment of $30 million, was laid in the eastern province of Elazığ. The factory will produce refrigerator engines for Turkey's two leading companies. With a planned production of 1 million units per year, engine imports will drop significantly.

Sezgin Motor Chairman Muzaffer Sezgin said they will make more investments in the coming days and produce solar powered storage batteries, as well as electric vehicles, high-speed trains, helicopters, domestic unmanned aerial vehicle (UAV) engines. Indicating that Elazığ will be an engine production base, Sezgin said 350 people would be employed at the end of the investment. He added that they exported to 12 countries and produced anti-aircraft guns for the Turkish Armed Forces (TSK) and UAV engines for the United States. On the other hand, Saudi Arabia's Afrina Holding is also planning to grow 30,000 cattle with an investment of $18 million in Elazığ.

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