Türkiye, situated at a key point for global trade and investments, attracted significant capital in various areas this year, from automotive and manufacturing to renewable energy and supply chains.
Companies in different sectors decided to invest in Türkiye, while some announced their decisions to increase their existing investments, according to the information compiled by Anadolu Agency (AA).
These companies stand out with their activities in various sectors, from manufacturing to the metal industry, from consumer electronics to health care devices.
In this context, Brazilian company WEG S.A. recently announced it will invest approximately 28 million euros ($29.1 million) to build a gearbox factory in the Aegean province of Manisa.
The investment, which aims to meet the demand in the gearbox market and increase the company's production capacity for components, is planned to be completed by 2027, increasing the production of gearboxes outside Brazil.
The new factory will be established in a 12,000-square-meter building in Manisa.
The facility is expected to provide sales integration with industrial electric motors produced in Türkiye and the gearbox factory in Austria.
WEG Group Türkiye, which currently employs 750 people in Türkiye, expects to create 150 new job opportunities with the new investments.
This deal, announced earlier in December, follows a $1 billion investment by Chinese EV giant BYD in Manisa, which, along with Bursa, is one of the key automotive centers in Türkiye.
On the other hand, Teknik Aluminum Industry Joint Stock Company, which operates in the metal sector, plans to invest approximately $384.9 million in the aluminum factory to be established in Tekirdağ province of Türkiye.
Moreover, Tosyalı Toyo Steel Joint Stock Company announced its decision to increase capacity in the production of tin products. The company aims to realize a capacity increase of approximately $200 million.
China-based Kaishan Group, one of the world's largest compressor manufacturers, announced its decision to invest $1 billion in Türkiye’s western Izmir province.
The company, which plans to commission the factory before 2026, will employ more than 200 people in the first phase of the project and 500 people in the factories will plan to produce spare parts.
BSH, which operates in the home appliances sector, announced an investment plan of 110 million euros in the country this year and approximately 500 million euros in five years.
China-based Haier Europe opened an approximately 70-million euros cooker product group production facility in the central province of Eskişehir.
At the same time, SDF Group commissioned a new 10,000-square-meter factory in Balıkesir province, focusing on the "FARMotion" engine product.
South Korea-based MegaGen, one of the world's leading dental implant manufacturers, announced its decision to invest $15 million in Türkiye in the first phase and $100 million in five years.
In addition to the aforementioned investments, several companies also announced investments in Türkiye in the fields of renewable energy and electronic components sectors in sustainability.
Germany-based Nordex Group, one of the major players in the field, announced its decision to invest 1 billion euros in increasing its onshore wind power plant investments in Türkiye.
Furthermore, China's Ganfeng Lithium, one of the world's largest lithium battery manufacturers, signed an agreement with Yiğit Akü to invest $500 million in Türkiye.
Gotion Group signed an agreement with Alarko Holding for energy storage systems and battery production in Türkiye. As a result of the investment, which is expected to be approximately 300 million euros, 400 people will be employed.
China-based energy company Eve Energy announced its plans to establish a joint venture with Aksa Generator for energy storage operations.
Additionally, Borusan EnBW Energy and Nordex Group signed a 36-megawatt (MW) turbine supply and maintenance contract for the Balabanlı Wind Power Plant capacity increase project. The companies also announced an 80-megawatt wind power investment in Sivas province.
Kontrolmatik Energy and Engineering JSC also signed an agreement with China's Harbin Electric Co. Ltd. to build a one-gigawatt-hour capacity energy storage facility and a 250-megawatt capacity wind power plant in Tekirdağ.
The total investment cost of the project is estimated at $600 million.
Similarly, Rönesans Energy will build a wind power plant to increase its investments in three provinces. The company has secured financing of $165 million with a 15-year maturity with the support of Germany's export credit guarantee.
The company also announced its first solar power plant investment.
HT Solar Energy JSC announced an approximately $50 million investment in producing components for solar panels.
While Türkiye has become the "connection point" for investments in various sectors, companies have also invested in the country to speed up the supply of products.
In this context, Mercedes-Benz Türk established a consolidation center in the Aksaray province.
Mubea Aviation, one of the product suppliers of European aviation and aircraft manufacturing company Airbus, opened its second factory, also in the northwestern province of Tekirdağ. The amount of the investment within this scope was calculated at $48.9 million.
Alp Aviation, which operates in the aviation and space industry, announced expansion investments of $32.5 million, and the subsidiary of Turkish Aerospace Industries (TAI) – TUSAŞ Engine Industries Inc. (TEI) announced expansion investments of $33.2 million.
Meanwhile, TEI announced an approximately $9.7 million investment to produce a new generation gas turbine in Eskişehir.
"Türkiye has been the choice of investors in critical sectors such as manufacturing and renewable energy in 2024," Burak Dağlıoğlu, head of Türkiye's Investment Office, told AA.
"It has become one of the important connection points in the global economic balances. These investments, while supporting economic growth, allow us to take important steps toward making Türkiye a global player in sustainable and innovative sectors," he added.
