Alarko to Invest USD 650 Million in Agriculture and Food Sector
March 2023
Alarko Holding, one of the biggest players in contracting, energy, industry, tourism, land development and venture capital market sectors in Türkiye, announced that it plans to invest USD 650 million in projects of agriculture and food.
Accordingly, as part of its 2030 targets, the company decided to invest in the agriculture and food sector focusing primarily on assisted greenhouse cultivation, open field agriculture, organomineral fertilization, food processing and sales and agricultural R&D technology.
Alarko Holding aims to employ 4,000 people with an investment of USD 650…
First Boron Carbide Production Facility
March 2023
The construction of a production facility for boron processing is completed and the factory commenced its operations on 19 March 2023. The project holds of great economic importance for Türkiye since it has 73% of the world's boron reserves which puts Türkiye as the world's number one country holding the biggest boron reserves.
President Recep Tayyip Erdoğan stated that the boron carbide production facility, which represents an investment of USD 80 million is set to become the world's first facility of its kind. Also as announced by Erdoğan, they will turn 694 million tons of rare…
Tуrkiye’s First Locally Produced Car
February 2023
After years of waiting, the features and design of the car, which will be produced locally in Türkiye, were introduced in 2020. The construction of TOGG’s factory in Bursa with an investment cost of TRY 22 billion (EUR 1.07 billion) began in May 2020. The construction works have been completed and the factory commenced its operations on the Republic Day of Türkiye, October 29, 2022. There are currently over 1,000 employees at the factory. It is expected that 4,323 people will be employed at the factory in the future.
A total of five models will be produced and 176,000 cars…
Filyos Natural Gas Processing Plant Project
February 2023
In mid-2020, the Turkish natural gas drilling vessels started their first drilling activities in the Black Sea. Later that year, approximately 540 billion cubic meters of natural gas deposits were discovered in the relevant region. Thereupon, the construction of the Filyos Natural Gas Processing Plant commenced, which is the landing point of Black Sea gas.
The landed natural gas will be transferred to the national transmission grid via a gas metering station and a 211-kilometer pipeline. 10 million cubic meters of natural gas per day will be reached in the first stage and 40 million…
Partnership of Zorlu Enerji and Wren House Infrastructure LP on Electric Charging Stations
February 2023
As being one of the biggest players in Turkiye’s energy sector, Zorlu Enerji aims to facilitate the journeys of electric vehicle owners and accelerate the electric vehicle revolution with the fast-charging stations it has implemented in urban and intercity roads. In addition to the fast-charging facility it offers at public points, it also installs charging stations in homes and workplaces in line with the demands of its users. Zorlu Enerji plans to commission charging stations all over Türkiye and make electric vehicles accessible and usable all over the country.
To achieve…
Ford Otosan Investment
February 2023
In 2021, Ford Otosan announced that a new investment of EUR 2 billion will be made within the scope of the transformation of the Kocaeli factories, which is one of Europe's largest commercial vehicle production bases, to produce electric cars. In February 2023, it is announced that from now on a total investment of EUR 1,39 billion is foreseen to be made in the next 5 years. Within the strategic partnership between Ford and Volkswagen, the new generation of Volkswagen commercial vehicles model 1-ton will be produced in Türkiye by Ford Otosan. With the investment, the Kocaeli factories…
Investment Round for Manc Games
January 2023
Manc Games is an Istanbul-based mobile game company which announced that it has secured an investment commitment of USD 50 million from a digital asset investment firm. The Turkish mobile game maker said the investment will be used to become a global brand in the gaming space.
According to the company representatives’ statements, the company is rapidly growing and its expected growth rate to achieve is over 25 million downloads by the end of 2023. Manc Games is adapting its games to Web3 and metaverse and aims to become a global name in the near future.
Investment Round for Ace Games
January 2023
Ace Games, a mobile gaming company with a vision to make games that are played by everyone around the world, completed its recent investment round in November 2022. Ace Games has raised a total of USD 40 million in funding over 3 rounds.
Ace is formed of veterans from other game companies such Dream Games and Playrix, it was founded by Hakan Bas, formerly of Peak Games.
Investment Round for Figopara
January 2023
Figopara is a solution that discounts companies' e-invoices before their due dates with the offers received by financial institutions. Figopara has announced that it is completed its recent funding with USD 11 million.
The firm works with more than 6,000 companies – all small and medium enterprises. As the company representatives said that four out of ten small and medium-sized enterprises in Türkiye close within three years of operation and the two core reasons why these businesses cannot sustain is (i) the inability to properly manage working capital and (ii) the absence of…
Use of Cookies and Its Practice in Turkiye
January 2023
Kolcuoglu Demirkan Kocakli Attorneys at Law's partner Maral Minasyan and associate Baybora Gokbora, LL.M. wrote an article on the use of cookies and its practice in Turkey.
It is available here.
Akkuyu Nuclear Power Plant
Akkuyu Nuclear Power Plant in Mersin is expected to become a major energy resource for Turkey.
New Investment Round For Getir
December 2022
Getir, which reached the unicorn level of companies by receiving an investment of USD 300 million from Sequoia Capital and Tiger Global in March 2021, completed its fourth investment tour two months later and received a new investment of USD 555 million.
In the first six months of 2021, with a total investment of almost USD 1 billion, Getir’s equity increased nine times in five months. While the company continues its growth in Türkiye and Europe with this investment, Getir entered the American market at the end of 2021. Getir started to serve in Chicago, New York and Boston.…
