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 of this capacity, reaching about USD 1 billion, will be destined to export markets like the US, Russia and Europe” This new factory will make it the 4th largest producer of polyester film in the world. “Thanks toTurkey’s key location, this facility will serve both the Asian and European markets. We can easily meet the demands of Western European markets” said Gupta adding “Thanks toTurkey’s key location, this facility will serve both the Asian and European markets. We can easily meet the demands of Western European markets”. Polyplex plans to invest another 500 million USD inTurkey in the near future. Source: Invest inTurkey

 

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