TOSYALI TO INVEST USD 5.5BN IN FIVE YEARS

Tosyali Holding, which operates in iron and steel and port operation, plans to invest USD 5.5bn in total at home and abroad to raise the production to 15 million tons in the next five years, according to Fuat Tosyali, Chairman of the Board of Directors of Tosyali Holding. The company, which exports to more than 100 countries, reached an export volume of over USD 1.5bn in 2021. “We plan to benefit from the gap in global markets stemming especially from China’s role,” said Tosyali. The company had an annual turnover of around USD 6bn last year. The firm’s USD 2.5bn steel manufacturing plant in Iskenderun will become operational at the end of the year. The company recently completed its new port investment in Erzin. It records half of its annual turnover abroad, and 60% of its steel production comes from its facilities in Montenegro, Algeria, Angola, and Senegal. “We are also working to build an industrial zone with a status of “Special Economic Zone” in Senegal. It will also be open to investors from Turkey,” said Tosyali. time,” Cakiroglu added. The consolidated net profit of Koc Holding amounted to TRY 346.7bn last year.

CAG LOGISTICS LAUNCHES SUBSIDIARY IN ROMANIA

Soycan Group’s logistics and supply chain management subsidiary CAG Logistics has established its second overseas subsidiary in Romania, according to Yilmaz Soycan, Chairman of the Board of Directors of CAG Logistics and Soycan Group. “With this step, our Turkey office will support operations in Romania and carry out its independent operations,” said Soycan. CAG Logistics will offer road and intermodal transportation, storage, transfer, and interior distribution services in Romania with the support of its new office. “We’ll offer transportation services to Turkish manufacturers, exporters, and importers with sustainable and affordable prices through our subsidiary in Romania,” Soycan added. The new subsidiary will also pave the way for

CAG Logistics to focus on countries in the Eastern Bloc and will provide access to local companies in Romania.

TK ELEVATOR TO FOCUS ON HIGH̞RISE BUILDINGS

TK Elevator, which was formerly the Germany-based Thyssenkrupp AG’s elevator subsidiary in Turkey later acquired by the U.S. and UK-based investment companies Advent and Cinven inn 2020, will concentrate on houses and high-rise buildings in Turkey, according to Artug Ozeren, CEO of TK Elevator. “We’ll accelerate our operations in almost all segments of the residential sector and focus on participating in highrise building projects,” said Ozeren. The company also aims to participate in mega projects such as hospitals and subway systems. TK Elevator raised its services portfolio by 20% in the last year. The company worked on various subway lines built by Istanbul Metropolitan Municipality and the Ministry of Transport and Infrastructure. NECLA DALAN

COSKUNOZ HOLDING AIMS TO GROW BY 30% THIS YEAR

Coskunoz Holding, which operates in the automotive, defense and aviation, energy and environment technologies, information technologies, and logistics sectors along with its 14 subsidiaries, aims to increase its turnover by 30% and the share of overseas investments in its total turnover from 15% to 20% in 2022, according to Erdem Acar, CEO of the company. Coskunoz raised its turnover by 30% to EUR 330m in 2021, compared to the previous year. “We aim to keep our growth around 30% considering the impact of the normalization of the global economy, the lessening of of the global chip shortage, high commodity prices, and increasing demand,” said Acar. Coskunoz Holding, which aims to increase the share of exports in total turnover to 40% in the next five years, plants to invest in new fields with venture capital. “We’ll invest in startups operating in fields such as mobility, medical technologies, agriculture, and aviation with our venture capital fund C-Ventures, which we recently established,” said Acar. ESRA OZARFAT

OTOKAR DELIVERS 50 BUSES TO AZERBAIJAN

Koc Holding subsidiary Otokar has delivered 50 units of KENT CNG natural gas buses to Azerbaijan, according to a statement from the company. The buses, which were imported by Azerbaijan’s public transport company Xaliq Faiqoglu, entered into service with a ceremony held in Baku. Otokar, which delivered 48 units of 12-meter buses and 2 units of 18.75-meter articulated busses to Xaliq Faiqoglu in total, completed the manufacturing of these buses in six months. “We manufactured these buses in line with the requests made by public transport operator Xaliq Faiqoglu, which has operated for nearly 20 years in Azerbaijan, serving the public transport needs of Baku,” said Serdar Gorguc, General Manager of Otokar.

ZEN PIRLANTA TO INVEST TRY 150M IN NEW PLANT

Jewelry company Zen Pirlanta will invest TRY 150m in its new 15,500 square meter jewelry manufacturing plant in Yenibosna, Istanbul, according to Emil Guzelis, Chairman of the Board of Directors of Zen Pirlanta. The new production plant, which will employ 2,000 people, will manufacture 200,000 pieces of diamond jewelry per month. “We’ll open our new facility on the week of October 29, the 100th anniversary of the Turkish Republic. We’ve already started the recruitment and training processes,” said Guzelis. Zen Pirlanta, which launched 10 stores at home and six stores abroad last year, raised its turnover by 60% in 2021 compared to the previous year. The company currently operates 83 stores in Turkey and 22 stores in the U.S., Europe, and the Middle East.