Super incentive to manufacture rail system vehicles

Giant projects that will be given Project-Based State Aid were published this morning in the Official Gazette. 4 investment was decided to give state aid.

State-of-the-art 571,5 million TL fixed investment consistent with BMC Otomotiv will be invested in the Karasu district of Sakarya and various State of the art Rail Systems Vehicles Production Facility and 585 million TL fixed investment will be provided to the State Engineers for Diesel Engine, Transmission and Subsystems Production Facility investments.

The President's Decision on the issue was published in the Official Gazette and entered into force.

Accordingly, the duration of the investment is expected to be 1 year starting from 2017 June 7. If the investment is not completed within this period, the Ministry of Industry and Technology will be able to provide half of the time.

The total fixed investment amount for the project was determined as 571 million 500 thousand pounds, additional employment 500 and qualified personnel number was 24. 250 team locomotives, wagons and subsystems are planned to be produced at the end of the investment period.

Investment, VAT exemption, Customs Duty exemption, VAT rebate, Corporate Tax deduction, insurance premium employer's share and income tax withholding support, qualified personnel support, interest support or profit share support will be provided. Energy support will also be provided.

After the completion of the investment, the company will apply to the Ministry of Industry and Technology. After completion of the appraisal process, a visa will be issued by the Ministry.

The investment incentive certificate will be issued following the notification of the necessary information and documents to the Ministry of Industry and Technology.

In addition, Tusaş-Turkish Aerospace Industry Inc. to invest in Ankara with a fixed investment of 5,66 billion TL National Combat Aircraft Production Plant with Bosch Sanayi ve Ticaret A.Ş. to support the investments of New Generation High Pressure Gasoline Injector Production Plant with a fixed investment of 1,24 billion TL in Bursa.

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