Sabah – Chinese textile producer Texhong will invest USD 180 million in Turkey’s western province of Balikesir.
A major name in China in textile production, Texhong has signed a land allocation protocol with the Balikesir Organized Industrial Zone administration to build a yarn production plant.
“Government authorities in Ankara and Balikesir were extremely helpful in facilitating our investment in Turkey..,” Texhong CEO Hong Tian Zhu said at the signing ceremony.
The investment will be realized in three stages with the construction beginning this year. The plant will initially employ 500 workers and will ultimately create 1500 jobs once completely operational.