The investments for poly-texture and bottle chips that were established for the first time in Sasa will be put into service in the first half of 2020. Meanwhile, it is known that Sasa is a candidate for the acquisition of the 8.5-million square-meter land in Yumurtalık. Specifying that an EIA report for the land was received two weeks ago, İbrahim Erdemoğlu, Chairman of the Erdemoğlu Holding, said, "It is not a matter of concern whether it will take place by way of either allocation or privatization, for us. Following the provision of the land, we can initiate the investment right away."
SASA TO COMPLETE THE ONE-BILLION DOLLAR INVESTMENT IN THE FIRST HALF OF 2020
The first step of the lunge of investment started nearly three years ago in Sasa has been completed. While the fiber investment is being put into service, the poly- texture and glass bottle chips facility that was established for the first time will be commissioned in the first half of 2020. The value of all the investments is one billion dollars.
Adana-based Sasa Polyester's gigantic investment move continues at full throttle. The first phase of the investments started at the end of 2016 as three main arms was completed in the recent months and its investments in poly- texture and bottle chips whose projects were developed from scratch will be put into service in the first half of 2020. Totally one billion-dollar investment was made for Sasa Polyester purchased by the Erdemoğlu Holding four years ago when it was one the deep-seated industrial companies of the Sabancı Holding. With the investments started at the end of 2016, the capacity of 750 ton/day was increased to 1,8 thousand ton/day with an increase of one thousand 50 tons in the fiber production facility.
Dr. Mehmet Seker, Member of the Board of Directors and General Manager of Sasa, stated that they prevented Turkey's 150 million-dollar import thanks to the 250 million-dollar new investment in that field. Dr. Şeker said, "Through our new investment made in the recent months, we are fulfilling the entire need of Turkey in this field."
Facilities built from scratch stand out among the investments of Sasa. The investment of 400 million dollars in poly-texture that is one of them will be completed in June this year. Sasa that will be the largest manufacturer in the field where Korteks also operates will provide contribution to the localization of 500 million-dollar products that come to Turkey by means of importation.
Another subject of production that Sasa started from scratch is being carried out in the field of bottle chips. Having made its first investment in plastic bottle chips, Sasa invests 100 million dollars in the field of glass bottle chips. 800 tons of products will be launched on the market on a daily basis upon the investment to be completed this month. While imports will be prevented, the way for exports to giant groups of companies will be paved owing to the new facility.
İbrahim Erdemoğlu, Chairman of the Board of Directors of the Erdemoğlu Holding, expressed that they are using the facilities of equity and financial resources in certain proportions in their investments, and said, "Erdemoğlu's companies are at all times strong. Profits are mainly put into investments and remain in the cash box of the company. We handle the issue of distribution of dividends very sensitively at Sasa. We have a strategy with the priority in dividends.”
EIA for Yumurtalık received
As you can view its details in our side news, Sasa Polyester is putting its important investment plans into service one after another. Once all the investments are completed, it will be the largest institution in its field in a very large geography extending along entire Europe and India including the US. While it is enhancing its product range and girding its loins for new investments from scratch, the Erdemoğlu Holding also prepares for a highly valuable investment. Erdemoğlu’s colossal production plant project that was learned by the public for the first time from the article of Vahap Munyar, a writer of our newspaper, (19 June 2017-Hürriyet) two years ago and that will provide raw material to Sasa has a structure that will change the dynamics within the global industry. Total investment value of the project, with which it is planned to realize production with the priority on MEG and PTA in the district of Yumurtalık of Adana, reaches 11,8 billion dollars. İbrahim Erdemoğlu, Chairman of the Board of Directors of the Erdemoğlu Holding, specified that they had initiated the EIA report process upon the direction of the Ministry for the 8,5 million square-meter land that was previously allocated to the Çalık Group and said they received the EIA report. Expressing that they are expecting the permit for the land allocation from the Ministry of Industry and Trade, İbrahim Erdemoğlu said, “Turkey carries out an import of billions of dollars every year for the raw materials that we will produce. We can start the investment right after the provision of the land. Following the provision of the land in Yumurtalık by way of either allocation or privatization, we can initiate one of the largest projects for our country right away.
WHY IS IT A CRITICAL INVESTMENT
Mentioning that their biggest customer will be Sasa situated in a very close proximity, once they start raw material production in Yumurtalık, Erdemoğlu said, “Through the investment, we will prevent Turkey's current deficit of five billion dollars. Once it was transformed into products and exported, we will prevent its current deficit of 12 to 15 billion dollars. We will be the production base of Europe along with Africa, the Middle East, and Russia. Once it takes place, we claim the 30 billion-dollar portion of Turkey’s 60 billion-dollar import. Thanks to the Yumurtalık endeavor, we will guarantee cheap and qualified raw materials to the market. Following it, there new investments with the value of billions of dollars, creating hundreds of thousands of employment opportunities.
Source: Dünya News
