1 BILLION DOLLARS OF INVESTMET CONTRIBUTES TO EMPLOYMENT ISSUE

Erdemoğlu Holding
11 8 2018
SASA, which produces petro-chemistry and fiber-type chemicals in Adana and exports to 45 countries including Germany, Italy and Spain, will contribute to the reduction of unemployment and current account deficit through two projects with a total

Of $ 1 billion, 250 million dollars part is being incentive, as well as it will strengthen its competitiveness.

Sasa, which utilized Project Based Incentive System that was approved by President of Republic of Turkey Recep Tayyip Erdoğan and promulgated in the Official Gazette, has also accelerated its investments supported by its own resources.

SASA General Manager Dr. Mehmet Şeker, reminded that they were the biggest fiber producer and Erdemoğlu Holding bought the facilities 3 years ago from Sabancı Holding to AA correspondent.

DR. Şeker also states that they endeavored to contribute national economy by continuously making new investments and lastly, they decided to make an investment of $1 billion within the group by utilizing from Project Based Incentive System, and construction works of new polymer, fiber and pay plants were being continued.

Dr. Şeker states that the new investments were halved in respect of construction works, and that the fiber and polymer part will be in operation from 1 January, and that the pay part will be put into service in the sixth month of next year.

Dr. Şeker emphasized that the new investments will increase their production capacity further and here with the latest model machines and automation system they would contribute to mitigation of the country's current account deficit and unemployment issues.

Indicating that the facility currently has 250 employees Dr. Şeker says “With the new investments, we will reach approximately 2,000 employees at the end of this year” Currently, 2 thousand 600 people work in SASA, including our construction workers. “SASA is Turkey's largest fiber manufacturer, also is a factory that contribute to the world's polymer production very seriously. Therefore, we produce a lot of chemicals and polymers. We have been awarded an incentive recently as you know. And added “These will have serious contributions to both the current account deficit and the country's economy.”

INVESTMENT TARGET OF 10 BILLION DOLLARS

 Dr. Şeker says that PTA facility would be their biggest investments and added
 “So we will produce raw materials of what we produce here and stop Turkey’s money to go abroad. In case this investment is realized, which there is no problem for us, we’ve even determined what technology we will use. Our only problem is a land, because we need a very large space. The land must be near seaside, we need to use sea water for cooling. Currently, our expectation from the Government is allocation of a land with said properties to us. We plan to make this facility come to life in 2026 at the latest. This investment of $ 10 billion will make significant contribution to Turkey's current account deficit and unemployment issues, and we will be able compete with Chinese. This is how we see the economic war. We will try to compete by competitive methods, by selling cheaper than them and provide more favorable conditions, not by implementing primitive methods such as “do not buy Chinese products”, “impose taxes and boycott against China” just like the USA does. Payment such as labor, electric etc. paid by Chine is exactly the same as Turkey pays currently. So why is China selling more than us? They have better technology. We have to establish this technology as well.

Dr. Şeker emphasized that they were capable to overcome all other issues including financing by themselves in case the Government allocates land they needed, and added that they made all planning and negotiations related with this plant and they would try to start and complete the investment in quickest manner and stop money go out from Turkey

Dr. Şeker says that in the event of allocation of the land the investment of 10 billion dollars number of employment will  exceed 10 thousand person, the number of people to work finally would be 4 thousand. Dr. Şeker who says that the only way to decrease dollar exchange rate, inflation and interest rates was to make production added “we can overcome all of these issues if we produce. We are not afraid of the rise of the dollar rate and interest rates. Dollar may increase, interest rates may rise. You can take the measures accordingly. The most dangerous thing is panic. You shall not panic”

Hürriyet Newspaper - 11.08.2018

Leave A Comment

Comment Succsesfully
captcha