İbrahim Erdemoğlu, Chairman of Erdemoğlu Holding, said, “As SASA, we will invest 11.8 billion dollars in Yumurtalık by 2031. We will divide the investment into 5 main companies. In the future, we can take domestic or foreign partners to these companies.
Expressing that 7 organizations worldwide want to be partners in SASA’s investment, Erdemoğlu said that 3 of them are from Japan, 2 of them are from South Korea, one of them is from Kuwait and the other is from Europe. Stating that they will be meeting with the suitors after the EIA approvals, Erdemoğlu said, “We are not going to take partners to SASA, we will take partners to the subsidiaries of SASA. This partnership will not exceed 50 percent, SASA will be the controlling partner." Erdemoğlu, said that they started to invest in petrochemicals in Adana-Yumurtalık, added, "thanks to the knowledge and support of our President, 6.8 million square meters of land was allocated in the region. With this land we started our work quickly," he said.
$786 billion turnover
Erdemoğlu pointed out that the EIA report will be completed in October and following the expropriation decision, in 2020, they will start production of PTA and MEG raw materials that SASA needs worth 1.5 billion dollars.
Erdemoğlu stated that they increased their annual capacity from 350 thousand tons in 2018 to 700 thousand tons this year and reported that their turnover which was 450 million dollars last year increased to 786 million dollars this year. Erdemoğlu stated that they are Turkey’s and world's largest manufacturer of machine-woven carpets with Merinos brand.
Milliyet Newspaper
