Chinese textile company invests in Türkiye

Dünya - Chinese textile producer Texhong plans to invest USD 70 million in a yarn production plant in Balikesir province in western Türkiye.

“The Chinese company chose Balikesir as an investment location for its logistic and strategic advantages,” according to Mustafa Gundogan, Secretary General of the South Marmara Development Agency, the regional investment office for Balikesir and Canakkale provinces. “The yarn manufacturing facility will cost USD 70 million and is scheduled to commence production within a year,” said Gundogan, adding that the project will enable the Chinese firm to reach European markets via Türkiye.

The first Chinese company investing in Balikesir province in the country’s well-developed Marmara region, Texhong will provide employment for at least 500 people.