Billions of dollars of investments set to flow into Türkiye by major companies across manufacturing, renewable energy, supply chain sectors
Türkiye has become a “hub” for investments in areas as diverse as manufacturing, renewable energy and supply chains.
Companies in different sectors decided to invest in Türkiye this year, while some announced their decisions to increase their existing investments, according to the information compiled by Anadolu.
These companies stand out with their activities in various sectors from manufacturing to the metal industry, from consumer electronics to healthcare devices.
In this context, WEG S.A. will invest approximately €28 million ($29.1 million) to build a gearbox factory in the Aegean province of Manisa.
The investment, which aims to meet the demand in the gearbox market and increase the company's production capacity for components, is planned to be completed by 2027, increasing the production of gearboxes outside Brazil.
The new factory will be established in a 12,000-square-meter building in Manisa.
The facility is expected to provide sales integration with industrial electric motors produced in Türkiye together with the gearbox factory in Austria.
WEG Group Türkiye, which currently employs 750 people in Türkiye, expects to create 150 new job opportunities with the new investments.
Teknik Aluminum Industry Joint Stock Company, which operates in the metal sector plans to invest approximately $384.9 million in the aluminum factory to be established in Tekirdag province of Türkiye.
Tosyalı Toyo Steel Joint Stock Company announced its decision to increase capacity in the production of tin products. The company aims to realize a capacity increase of approximately $200 million.
China-based Kaishan Group, one of the world's largest compressor manufacturers, announced its decision to invest $1 billion in Türkiye's western Izmir province.
The company, which plans to commission the factory before 2026, will employ more than 200 people in the first phase of the project and 500 people in the factories it will plan for spare parts production.
BSH, which operates in the home appliances sector, announced an investment plan of €110 million in the country this year and approximately €500 million in five years.
China-based Haier Europe opened an approximately €70-million cooker product group production facility in the Eskisehir province.
SDF Group commissioned a new 10,000-square-meter factory in Balikesir province, focusing on "FARMotion" engine product.
South Korea-based MegaGen, one of the world's leading dental implant manufacturers, announced its decision to invest $15 million in Türkiye in the first phase and $100 million in five years.
- Renewable energy investments in sustainability
Companies announced investments in Türkiye in the renewable energy and electronic components sectors in sustainability.
Germany-based Nordex Group announced its decision to invest €1 billion to increase its onshore wind power plant investments in Türkiye.
China's Ganfeng Lithium, one of the world's largest lithium battery manufacturers, signed an agreement with Yigit Aku to invest $500 million in Türkiye.
Gotion Group signed an agreement with Alarko Holding for energy storage systems and battery production in Türkiye. As a result of the investment, which is expected to be approximately €300 million, 400 people will be employed.
China-based energy company Eve Energy announced that it plans to establish a joint venture with Aksa Generator for energy storage operations.
Borusan EnBW Energy and Nordex Group signed a 36-megawatt turbine supply and maintenance contract for the Balabanli (Canakkale) Wind Power Plant capacity increase project. The companies also announced an 80-megawatt wind power investment in Sivas province.
Kontrolmatik Energy and Engineering JSC also signed an agreement with China's Harbin Electric Co. Ltd. to build a 1 gigawatt-hour capacity energy storage facility and a 250-megawatt capacity wind power plant in Tekirdag.
The total investment cost of the project is estimated at $600 million.
Ronesans Energy will build a wind power plant to increase its investments in three provinces. The company has secured financing of $165 million with a 15-year maturity with the support of Germany's export credit guarantee.
The company also announced its first solar power plant investment.
HT Solar Energy JSC announced an investment of approximately $50 million for the production of components for solar panels.
- Product supply investments
While Türkiye has become the "connection point" for investments in various sectors, companies have also invested in the country to speed up the supply of products.
In this context, Mercedes-Benz Turk established a consolidation center in the Aksaray province of Türkiye.
Mubea Aviation, one of the product suppliers of European aviation and aircraft manufacturing company Airbus, opened its second factory in Tekirdag. The amount of the investment within this scope was calculated at $48.9 million.
Alp Aviation, which operates in the aviation and space industry, announced expansion investments of $32.5 million, and TAI Engine Industry (TEI) announced expansion investments of $33.2 million.
Meanwhile, TEI announced an investment of approximately $9.7 million for the production of a new generation gas turbine in Eskisehir.
- ‘Investments support economic growth'
"Türkiye has been the choice of investors in critical sectors such as manufacturing and renewable energy in 2024," Burak Daglioglu, president of Türkiye's Investment Office, told Anadolu.
"It has become one of the important connection points in the global economic balances. These investments, while supporting economic growth, allow us to take important steps toward making Türkiye a global player in sustainable and innovative sectors" he added.
