9.3Dongfeng to invest $250M in new car plant in Turkey

Dongfeng to invest $250M in new car plant in Turkey

 

http://autonews.gasgoo.com/auto-news/1012008/Dongfeng-to-invest-250M-in-new-
car-plant-in-Turkey.html

 

Shanghai, September 3 (Gasgoo.com) China's third-largest carmaker Dongfeng
Motor is to invest $250 million to launch a production facility in Turkey
with an annual capacity of 52,000 units, Turkey's government investment
agency said on Wednesday. 

 

Turkey's Investment Support and Promotion Agency said in a statement that
feasibility studies for the location are being carried out and construction
should begin in the first quarter of 2010. 

 

The plant is expected to employ 1,000 staff. On completion, the plant would
build cars for Turkish market as well as export cars to Europe, the Middle
East and Africa. 

 

It also reported that Korean steel manufacturer Posco would make an initial
greenfield investment in Turkey of $24 million to produce annually 170,000
million tonnes of flat steel, to be used primarily for the automotive
sector. That plant will start operation in 2010. 

 

Hyundai Assan, a joint venture between carmaker Hyundai and Turkey's Kibar
Holding, announced on Wednesday it had chosen Turkey as the site for
production of its new i20 series. 

 

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