Invest News DetailYeni Safak - Filyos Valley in the western Black Sea province of Zonguldak will begin its transformation into an industrial and logistics base of vast proportions, to be completed with a seaport, loading facilities, organized industrial zones, dams and power plants in 2013. With its conception dating back to the Ottoman Era, the multibillion industrial region project will also house large scale private sector investments including iron-steel foundries, shipbuilding facilities and cement plants. “Filyos Project will play a vital role with its enormous scale and potential in helping to reach Turkey’s 2023 targets. We need more projects similar to Filyos in vision and scope,” said Mehmet Ceylan, Deputy to the Minister of Development, in an interview with the Turkish press. Turkey aims to be one of the top 10 economies of the world by 2023, the centennial of the Republic with a GDP of USD 2 trillion and USD 500 billion of export volume. “The concept of industrial region is relatively new in Turkey. Special incentives may be put in place for investors depending on a Cabinet of Ministers Decree..” Ceylan said, adding that the Investment Support and Promotion Agency of Turkey (ISPAT) has already been receiving investment offers to the region. Located in the Caycuma district of Zonguldak, the Filyos Project will cover an area of 5.5 million square meters and is projected to employ 10 to 15 thousand people in total.