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Azerbaijan’s state oil company to invest 10 billion USD in Turkey

Istanbul, 12 June 2012 - Over the next eight years Azerbaijan's state oil company, SOCAR, intends to invest 10 billion USD in Turkey according to Suleyman Gasimov, the company’s Vice President. This amount excludes the new Trans - Anatolian Pipeline Project. SOCAR is already building a 5 billion USD refinery...

Posted on 26 June 2012

Turkey’s regional centre for Germany’s Bosch, Siemens

Istanbul, 11 June 2012 - At a recent press conference Norbert Klein, Chairman of Bosch Siemens (BSH), the German white goods and home appliances manufacturer, announced that its Turkish office is now running the company’s MENA, Central Asian and Near Eastern markets. Klein said “BSH’s notable success in the Turkish...

Posted on 26 June 2012

Russian bank buys into growing Turkish banking market

Istanbul, 8 June 2012 - Sberbank, the Russian state owned bank has signed the preliminary agreement to buy Denizbank which is part of the French Belgian owned Dexia Bank. The transaction is due to be completed by the end of 2012 and the purchase price is approximately 3.6 billion USD....

Posted on 26 June 2012

US manufacturer buys Turkish hose manufacturer

Istanbul, 7 June 2012 - Eaton Hydraulics Group, the US diversified power management company, has announced plans for the acquisition of Polimer Kaucuk the Turkish manufacturer of hydraulic and industrial hoses used in the construction, mining, agriculture, oil/gas sectors. Announcing the acquisition William VanArsdale, President of Eaton said, “Turkey’s economic...

Posted on 26 June 2012

Unilever breaks ground on its new plant in Turkey

Istanbul, 6 June 2012 - Unilever started construction of its new 100 million USD factory in Konya in Turkey’s Central Anatolia Region. The factory will be used for the production of Unilever’s Turkish ice cream brand “Algida” for its domestic and MENA region dales. This is Algida’s second Turkish plant...

Posted on 22 June 2012

Turkish solar energy projects on the grid

Istanbul, 2 June 2012 - With foreign and domestic investors are already queuing up for the rights to produce solar energy, Turkey’s Energy Market Regulatory Authority has announced that between 10th to 14th June 2013 it will accept license applications to produce electricity from solar energy. “The potential investors in...

Posted on 22 June 2012

Turkey’s exports up 10.3 percent in 2012

Istanbul, 1 June 2012 - According to the Turkish Exporters Assembly,Turkey’s exports reached 11.8 billion USD in May 2012 up 7.3 percent from the same period in 2011.Turkeyexported 59.8 billion USD worth of goods to foreign buyers in the first five months of 2012, representing a 10.3 percent increase over...

Posted on 22 June 2012

Indian company to invest 150 million USD in Turkey

Istanbul, 30 May 2012 – India’s Polyplex Corp, a leading manufacturer of polyester film, has announced a 150 million USD investment in Turkey. According to Kapil Gupta, Polyplex’s Senior Vice President, “The plant will have capacity to produce 600,000 tons of polyethylene terephthalate per annum”, “Some 70 to 80 percent...

Posted on 22 June 2012

Turkish Airlines continues to grow

Istanbul 29 May 2012 - Turkish Airlines CEO, Temel Kotil, has set out his aims of building the airline into the biggest network of destinations, “Very soon we will become the largest network in the world". “The purpose is very clear: like the Silk Road, we are linking everywhere to...

Posted on 22 June 2012

Istanbul is in top 10 global convention centres

Istanbul, 28 May 2012 – According to the International Congress and Convention Association, Istanbul is now in the top 10 cities in the world for international exhibitions and congress centres ranking 9th behind Beijing, Rome and Brussels. In 2001 Istanbul was ranked 40th. Source: Invest in Turkey

Posted on 22 June 2012