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13:31, 18 July 2018 Wednesday
Update: 16:35, 22 June 2018 Friday

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Turkey's mega industrial zones to attract investment
Turkey's mega industrial zones to attract investment

Country to invest in several areas such as energy, bio-technology and machinery with mega-industrial zones project

World Bulletin / News Desk

Turkey's mega-industrial zones, which will be built with 140 billion Turkish liras (nearly $30 billion) investment, will attract international investments.

Mega-industrial zones will create 100,000 jobs, attract domestic and international investments, and provide high-tech production, according to information compiled from the Science, Technology and Industry Ministry.

All expenditures of the zones, including bridge, railway connection, electricity, water lines and telecommunications will be covered by the ministry.

Turkish Finance Ministry and Treasury will also support these zones.

China, South Korea, and Singapore's industrial areas will be role models for Turkey's mega industrial zones.

The zones will be operated by common law corporations and these corporation's structure will be open to domestic and international enterprises' investment.

In the first stage, four mega industrial zones will be built with 45 billion lira investment ($9.5 billion) in the coastal Blacksea towns of Trabzon, Zonguldak and Sakarya, and southern Adana. These areas will employ around 35,000 people.

In the first stage, investments will be made in energy, machinery, road-motor vehicles, defense industry, railway systems, space, aviation, biotechnology, nanotechnology and information technologies fields.

After the first stage, 10 more mega industrial zones will be built totaling 140 billion liras (nearly $30 billion) investments all around the country.

It is expected that these all zones will employ around 100,000 people.

Mega-industrial zones were announced first by President Recep Tayyip Erdogan last week.

"We will upgrade Turkey in industry and technology sectors," he said.

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