10/3/2012

Saudi-based ALJ set to invest USD 1 billion in Turkey

Hürriyet Daily News - Saudi Arabia-based ALJ group is planning a USD 1 billion investment in Turkey after inspections in the energy, tourism and real estate sectors. ALJ currently distributes Toyota cars in Turkey and plans to consolidate all its local businesses under one holding.

“We’ve always put Turkey at the center of our targets and have worked with this in mind. We have slowly begun to reach the level of investment in Turkey that we had been dreaming of,” said ALJ Holding Chairman and Chief Executive Officer (CEO) Ali Haydar Bozkurt.

Bozkurt explained that ALJ’s current operations in Turkey will continue under the ALJ Holding umbrella and that there are now 300 employees working at the holding, but this number will soon increase. ALJ’s investments in Turkey to date have reached a quarter of a billion dollars and its existing operations provide ALJ with about USD 1 billion in annual turnover.

“Our goal in the next 10 years is to increase our investments in Turkey by threefold,” he added. ALJ plans to invest in the construction, tourism, energy, real estate, mining, food and foreign trade sectors, and the company has analyzed all the different sectors with the aid of global consulting firms seeking areas of opportunity.

Bozkurt said ALJ is interested in making Turkey a hub to export value-added products abroad.
/Style%20Library/Invest/images/news.png
Turkey; Saudi investments turkey; alj group; Toyota turkey