5/9/2011

Cummins breaks ground in Izmir for USD 70 million investment

Hurriyet / Star - The US-based Cummins Inc, a leading manufacturer of diesel engines and engine parts, held the ground breaking ceremony of its production facility in the Turkish port city of Izmir. Located in the Aegean Free Zone (ESBAS), the USD 70 million greenfield investment will create 800 jobs when it becomes operational early next year.

The ground breaking ceremony of the air and oil filter production plant was attended by Minister of Industry and Trade, Nihat Ergun, Minister of Culture and Tourism Ertugrul Gunay, Former Minister of Transportation and Communications and Deputy Candidate for Izmir, Binali Yildirim, President of the Investment Support and Promotion Agency of Turkey (ISPAT), Ilker Ayci, US Ambassador to Ankara, Francis Ricciardone and Cummins Vice President, Anant Talaulicar.

“The international investors, who are able to read Turkey’s strategic position, waste no time in taking advantage of the country’s countless investment opportunities,” said Minister Ergun, thanking Cummins for choosing Turkey as its site of investment.

Cummins Vice President Talaulicar said that the company’s search for an investment location took two years and Turkey emerged as the winner from over 20 countries analyzed. “Izmir is close to markets in North Africa, the Middle East and Europe. We have high hopes and ambitious plans for our investment in Izmir. Cummins is proud to be in Turkey,” he said.

Stressing the importance of the company’s high export target, ISPAT President Ilker Ayci said that the Agency has been hard at work on the Cummins project for the last two years and that the realized investment would not be limited to a USD 70 million plant but will develop into greater projects in the future.
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Turkey; izmir; automotive industry; cummins; diesel engine manufacturer; aegean free zone; nihat ergun; ispat; ilker ayci