Türkiye to receive $9.3B investment for solar cell, petrochemical, defense production

Türkiye will receive a $9.3 billion investment from large-scale projects in solar cell, petrochemical, vehicle and defense solutions production, among others, as a part of the country's HIT-30 (High Tech) investment program, according to an official on Friday.

Mehmet Fatih Kacir, minister of industry and technology, said on X that the large-scale investment projects will create more than 20,000 jobs and contribute $12 billion annually to Türkiye's current account balance.

Turkish firms Alfa Solar, Astroenergy, CW Solar Cell, Elin and Schmid Pekintas will invest $390 million, $520 million, $387 million and $683 million, respectively, for integrated solar cell production facilities around the country.

Turkish defense firm Aselsan will invest $616 million to produce photon detectors, nanotechnology, and air and missile defense systems radars in Ankara.

Chemical firms CCE Metal and Kimya Ticaret will manufacture special alloyed aluminum with a $168 million investment in the northwestern city of Bilecik.

Chinese automaker Chery will invest $1 billion in a new-generation vehicle production and supply industry facility in the northern coastal city of Samsun in the Black Sea region.

Turkish miner Eti Bakir will produce cathode copper, cobalt metal, zinc metal and pellet iron in a $498 million investment in Samsun.

Defense firm Havelsan will produce command and control, simulation, and autonomous and platform systems in Istanbul and Ankara with a $143 million investment.

Turkish textile mill firm Karesi Polyester and Petrochemistry will invest $1.4 billion to produce purified terephthalic acid (PTA) in the northwestern city of Balikesir.

Defense company Mechanical and Chemical Industry Corporation (MKE) will produce cylindrical gunpowder and other ammunition in Ankara and the central Anatolian city of Kirikkale with an investment worth $818 million.

Pharmaceutical firm Proturk Ilac will establish a plasma fractionation facility with $448 million in Ankara, while defense company Roketsan will invest $407 million for defense systems production in the capital and Kirikkale.

Aluminum maker Teknik Aluminum Sanayi will produce aluminum with direct cooled slab casting and hot rolling method in the northwestern city of Edirne with a $480 million investment, while vehicle maker Tofas will launch a facility to produce new generation vehicles with $468 million in Bursa.

Turkish defense firm Tomtas will produce training and light land attack aircraft, as well as ready-to-assemble parts, in the central Anatolian city of Kayseri with a $292 million investment.