Chery seeks to build $500 mln factory in Turkey
Shanghai, September 18 (Gasgoo.com) Chinese automaker Chery Automobile Co is seeking to open to world markets via Turkey, Turkish industry minister said on Wednesday, reports Anatolia news agency.
"The Chinese 'Chery" automotive firm has applied to Turkish authorities to make US$500 million of investments in Turkey, and open to world markets via our country," Turkey's Industry & Trade Minister Nihat Ergün said the Frankfurt Motor Show in Germany.
Two executives of the Chinese automotive group Chery visited the northwestern province of Sakarya in January 2009 to acquire a lot to build an automotive factory, the report said.
Chery is to cooperate with Turkey's Mermerler automotive company in this project.
In a related story, China's third-largest carmaker Dongfeng Motor is reported two weeks ago to invest $250 million to build a production facility in Turkey with an annual capacity of 52,000 units. Construction on the facility should begin in the first quarter of 2010.
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