BY MEHMET HANIFI GULEL
Istanbul Gubre Sanayii AS (IGSAS), Yildizlar Yatirim Holding’s subsidiary operating in the fertilizer industry, will make two investments worth USD 200m in total, according to Ilkay Unal, General Manager of IGSAS. The company started production in its potassium nitrate facility in Kutahya during the pandemic. IGSAS aims to increase its turnover by 30% from TRY 3.3bn to TRY 4bn in 2021, compared to 2020. The company, which increased manufacturing and sales with investments in its Kutahya and Antalya production plants in 2019 and 2020, will start launch USD 50m in new investment on an area of 30,000 square meters in Samsun in two months. “Our goal is to increase capacity by 200,000 tonnes with this investment. This corresponds to 15% capacity increase specific to agricultural products,” said Unal. The investment will be completed in 1.5 years and 100 people will be employed.
Leave a Reply