LAND SUPPORT IS EXPECTED FOR 10 BILLION DOLLARS OF INVESTMENT

Erdemoğlu Holding
11 8 2018
While Sasa maintains its 1-billion-dollar investment, it expects land support for its $ 10 billion investment which can be completed in 2026. Sasa General Manager Dr. Mehmet Şeker says “Investment amount of 10 billion Dollars will increase our competitiveness especially against

China”.

SASA, which produces petro-chemistry products and fiber-type chemicals in Adana and exports those to 45 countries including Germany, Italy and Spain. will contribute to mitigation of unemployment and current account deficit issues and as well as it will increase its competitive power with its two projects valued at $ 1 billion whose $ 250 million is sourced as incentive. 

Utilizing the Project-Based Incentive System, which was approved by President Recep Tayyip Erdogan and promulgated in the Official Gazette, SASA accelerated its investments supported by its own resources as well. SASA General Manager Dr Mehmet Şeker, says in his statement that they were the greatest fiber producer in Turkey and reminded that facilities were bought by Erdem Holding from Sabancı Holding 3 years ago.  Dr. Şeker stating that they strove to contribute to national economy by abidingly making new investments says that they recently decided to invest $ 1 billion within the facility, and construction works of new polymer, fiber and pay plants were under construction.  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.

2 thousand new employments next year

Dr. Şeker states that there were 2,500 employees at the plant, and says “With the new investments, we will reach approximately 2,000 employees by the end of this year. Currently, 2 thousand 600 people work in SASA, including our construction workers. SASA is Turkey's greatest fiber manufacturer, and a plant that has significant contribution to the world's polymer production. Therefore, we produce a lot of chemicals and polymers. We have been awarded an incentive recently as you know. These will have significant contributions to both the current account deficit issue and the national economy      

THE ESSENTIAL BIGER INVESTMENT ON THE LINE

Dr. Şeker says that PTA facility would be their biggest investments and added “So we will produce raw materials of products that we produce here and will stop money to flow from Turkey to 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 amount of $10 billion will have significant contribution on Turkey's current account deficit and unemployment issue. We will be able to compete against China” Dr. Şeker emphasized that they would solve all issues including financing if the land they expected from the government is allocated, says that they completed all negotiations and planning and they would strive to stop money flowing from Turkey to abroad by starting and finishing investment rapidly.        

Source: Karar Newspaper 11-08-2018

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