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Swiss chocolate maker to invest in Turkey

Istanbul, 3 November 2012 - Barry Callebaut, the Swiss chocolate and cocoa products maker, has announced plans to invest 15 million CHF in a new factory in Eskisehir in Turkey. The new factory will have a production capacity of 15,000 tons per year and is expected to create 50 new...

Posted on 06 November 2012

Ford moves Transit van production to Turkey

Istanbul, 2 November 2012 – The Ford Motor Company has announced plans to close its UK Southampton factory and its Belgium factory and move its Transit van production to its factories inTurkey. Ford will to concentrate its van production with Turkey becoming its sole Transit range maker. Ford Turkey, a...

Posted on 06 November 2012

Canadian gold miner investing in Turkey

Istanbul, 1 November 2012 – Alamos Gold, the Canadian gold mining company, has announced plans to invest 1 billion USD in the Biga peninsula in westernTurkey. The investment will be spread over two projects, Kirazli and Agi Dagi. The company has already invested 35 million USD in feasibility studies and...

Posted on 06 November 2012

Istanbul Construction Boom Shows Growing Prowess of the City

The city of Istanbul is booming, as construction sites are springing up all over the place. One such project is the Zorlu Centre, a $2.5 billion site that includes luxury boutiques and a Raffles Hotel. Almost half of the 1.5 million Dollar-a-piece apartments have already been snapped up by wealthy...

Posted on 02 November 2012

Turkish Trade Deficit Sees Big Decrease, Other News

The foreign trade deficit is known to be one of Turkey's few remaining economic problems. However, according to the latest data the foreign trade deficit shrank by almost 35% on the year in September. The figures, from Turkstat show that a 21% increase to $13 billion in exports, combined with...

Posted on 01 November 2012

3M to establish regional production hub in Turkey

Istanbul, 31 October 2012 - 3M, the US diversified technology company, is to establish its third European regional production centre in Tekirdag in Turkey. 3M plans to invest 500 million USD in its new production centre and employ 1,000 works. According to Giuseppe Castaldi, 3M Vice President for Central and...

Posted on 31 October 2012

Chinese yarn production company to invest in Turkey

Istanbul, 30 October 2012 - Texhong, one of China’s leading yarn production companies, is to invest 70 million USD in a new factory in Balikesir in western Turkey. Secretary General of Turkey's South Marmara Development Agency said “The Chinese company chose Balikesir as an investment location for its logistic and...

Posted on 31 October 2012

South Korean steel maker to start production next April

Istanbul, 29 October 2012 – Pohang Iron and Steel Company, a leading South Korean steel maker, is due to start production in Turkey in April 2013. According Assistant General Manager, Jong Won Kwon, the company is expecting to produce 200,000 tons in its first year of operation. According to Kwon...

Posted on 31 October 2012

Turkey Set To Expand Its Pharmaceutical Business

The Turkish pharmaceutical industry is expected to expand substantially during the next few years, and sales of drugs could reach $23.3 billion by 2023, up from just $5 billion in 2011. These figures come from a report by Pricewaterhouse Coopers which was commissioned by the pharmaceutical industry, but are based...

Posted on 26 October 2012

Turkish Airlines Increase Arabian Flights

Another week another new Turkey flight to widen the country's already impressive accessibility to tourists and property buyers from around the world. This week we have new flights from Pegasus Airlines from Istanbul. One is a thrice-weekly route between Istanbul and Lviv in Ukraine, and the other is a 4-times...

Posted on 25 October 2012