Vestel invests in a new washing plant

2325

vestelVestel Beyaz Eşya, big Turkish producer of home appliances, announced the starting of a new strategic project for building a new production facility on the land acquired in the Manisa Organized Industrial Zone. The plant will produce washing machines and dryers with a production capacity of 750,000 units/year for each product. The investment is planned to be completed by June 2018 and will be realized with a capital expenditure of 70 million euro, including the land acquisition cost. The Company is currently in talks with several banks and financial institutions in order to raise financing for the investment. Vestel Beyaz Eşya will also receive investment incentives such as customs duty exemption, VAT exemption, corporate tax break and employer’s social security contribution support for the afore-mentioned investment.