German, Dutch, Italian firms to invest in OIZs in Yalova

German, Dutch and Italian firms will be investing in ship and clothing specialized organized industrial zones (OIZs) in the northwestern province of Yalova's Çiftlikköy district, an official said Thursday.

The industrial zones, established on a 4 million meter square area, are projected to employ around 20,000-22,000 people.

The Ship Specialized Organized Industrial Zone (GİOSB) and Eurasia OIZ, a clothing specialized industrial zone, have been reported to have started receiving demand from abroad.

"So far, sale process of 28 parcels of 91 parcels at GİOSB has been completed. Currently eight to nine projects are in the licensing phase. They will be starting the construction of the facilities this year. Three out of 28 firms are foreign companies. We have German, Dutch and Italian companies. Demands from abroad has begun to arrive." said Eurasia OIZ Allocation Affairs Coordinator, Muharrem Çay.

The GİOSB is established on a 1.5 million square meters area, while Eurasia OIZ is found on a 2.5 million square meters area, Çay was quoted as saying by Anadolu Agency (AA), adding that the two zones consist of 192 parcels of land or lots, of which 91 belong to GİOSB and 101 belong to Eurasia OIZ.

Çay remarked that infrastructure work began last May and said they continued at full speed. Noting that the first phase is expected to be completed by the end of the year, he said so far, about a quarter of the total area has been allocated and sold. "Some of the companies have already launched construction. As of the end of the year, 10-12 companies will commence operations at the OIZ," he added.

So far, agreements with some 10 firms have been signed at the Eurasia OIZ, Çay said. One of the Turkey's leading ready-to-wear clothing firms, LC Waikiki has acquired a 400,000 meter square area to establish a grand facility for which construction has been launched, according to Çay, who noted that the firm will be putting into operation the first phase of 110,000 square meters area by year-end.

Çay said that they expect an investment of around TL 2.5 billion in the next 4-5 years, including TL 1 billion from the GİOSB and TL 1.5 billion from the Eurasian OSB. "Currently, the first phase of the investment continues. We will continue the project stage by stage in two year periods. Some 20,000-22,000 jobs are expected to be created."

In fact, according to Çay, the whole situation is projected to bring migration to Yalova. He noted that Yalova has an advantage in terms of location, as it is just a 45-minute drive away from millions of people within the triangle of Istanbul, Kocaeli and Bursa.