Alibaba Plans to Invest $2 Billion in Turkey
September 18 2023 - 4:50AM
Dow Jones News
By Andrea Figueras
Alibaba Group Holding aims to invest $2 billion in Turkey, where
it plans to build new facilities in Ankara and Istanbul, the
company's e-commerce unit Trendyol said Monday.
The Chinese technology company intends to create a data and
logistics center in Ankara and an export-operations center at
Istanbul Airport, Trendyol said. The plan was presented at a
meeting between Alibaba President Michael Evans and Turkish
President Erdogan.
Alibaba, through Trendyol, has invested $1.4 billion to date in
Turkey, which Evans sees has the potential to become one of the
world's leading electronics export countries, Trendyol said.
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
September 18, 2023 05:35 ET (09:35 GMT)
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