BY NECLA DALAN
The cosmetics company Eyup Sabri Tuncer will set up an ethanol production plant in Balikesir with a EUR 42.5m investment, according to Hasan Engin Tuncer, Chairman of Eyup Sabri Tuncer.
The company bought 100,000 square meters of land and will build the factory on 40,000 square meters.
“We will meet 25% of the investment from our own resources. We plan to use loans from local banks for the remainder. We wait for the Central Bank’s statements about investments,” Tuncer said.
The facility will have a capacity of 45 million liters.
The company will use 15% of the output while selling the remainder at home and abroad. “We currently export 20% of our production.
We aim to raise exports and increase the share of exports to 50% in our turnover,” Tuncer added.
With a product range of up to 650, from cosmetics to personal care, the firm exports to 74 countries.
