SASA Polyester invests 150 million dollars.
SASA Polyester announced that it has decided to invest in a production facility for pet chips, bottle chips and textile chips, a sum of 150 million dollars.
Dr. Mehmet Şeker, Member of the Board of Directors of SASA, stated that the project for the gigantic production facilities, will provide SASA Polyester with raw materials and has a structure that will alter the dynamics in the global industry.
The planning and ongoing investments of SASA and the Erdemoğlu Holding, that made headlines, with the recent boom of orders in carpets and polyester and its endeavors as the most significant procurer of the packaging of health, hygiene and medical products in the course of the pandemic, also invited attention through their size that will impact international trade.
SASA Polyester, operating in polyester fiber, filament and polymer industries, announced that it had decided to invest 150 million dollars via the Public Disclosure Platform (KAP).
SASA produces polyester, fiber, filament and polyester-based polymers in Adana, as a subsidiary of the Erdemoğlu Holding and is awaiting consent for land allocation from the Ministry of Industry and Technology, following the completion of the EIA (Environmental Impact Assessment) process, for the construction of the 11.8 billion-dollar plant that will provide raw material.
SASA decided to invest in the production facility, with an estimated investment cost of 150 million USD and an annual capacity of 330,000 tons and it is planned to be commissioned in the second half of 2023. The annual contribution to the turnover by SASA Polyester, will be around 330 to 350 million USD, with today’s figures.