Laying the foundations for a refrigerator factory in Thailand, Arçelik has announced that the company will earn nearly $500 million over the next three years once the project is completed. According to an announcement by Arçelik published on the Public Disclosure Platform, the refrigerator factory investment is planned to be completed by the end of 2015 and production will start right away. "We are aiming to manufacture more than 800,000 refrigerators and earn nearly $500 million from the sales to the Association of Southeast Asian Nations (ASEAN) in the first three years," the announcement read. Arçelik had announced on Dec. 12, 2014 that it gained official approval from Thailand Investment Agency to receive an investment incentive to establish a refrigerator manufacturing plant in Thailand and the company planned to make an investment valued at 3.1 billion Thai Baht in Thailand over the next three years.