Alibaba plans $1 billion investment in Turkey
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Chinese e-commerce giant Alibaba Group Holding Ltd is planning a logistics hub at Istanbul Airport and a data centre near the Turkish capital Ankara with an investment of more than $1 billion, its president, Michael Evans, was cited as saying.
Turkey’s Sabah newspaper reported Evans as saying in an interview that the company was looking to invest in Europe and the Middle East and that he sees Turkey as a very strong production base.
“We have a serious investment plan at Istanbul Airport. We can evaluate e-export plans from here to Europe, the Middle East and the Far East. We plan an investment of more than $1 billion,” Evans was quoted as saying.
Trendyol, one of Turkey’s best known e-commerce platforms, is backed by Alibaba.
“The reason we chose Trendyol was that its technology was advanced and its potential was great. We are positioning this place as a base for Europe and the Middle East,” he said.
Questions & Answers
Q.What kind of facilities does Alibaba plan to build in Turkey?
What kind of facilities does Alibaba plan to build in Turkey?
Alibaba intends to establish a logistics hub at Istanbul Airport and a data centre near Ankara. These facilities are part of a broader investment strategy by the Chinese e-commerce giant.
Q.How much money does Alibaba plan to invest in Turkey?
How much money does Alibaba plan to invest in Turkey?
Alibaba plans to invest more than $1 billion in Turkey. This significant sum is earmarked for the development of new infrastructure, including the logistics hub and data centre.
Q.Why has Alibaba chosen Turkey for this investment?
Why has Alibaba chosen Turkey for this investment?
Alibaba sees Turkey as a very strong production base and a strategic location. The company plans to use Turkey as a base for e-export plans to Europe, the Middle East, and the Far East.
Q.What is the connection between Alibaba and Trendyol?
What is the connection between Alibaba and Trendyol?
Trendyol, a well-known Turkish e-commerce platform, is backed by Alibaba. Alibaba chose Trendyol due to its advanced technology and significant potential, positioning it as a base for regional operations.
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