12 billion lira investment plan in three years

Borusan Holding CEO Erkan Kafadar stated that they are planning to make a new investment of 12 billion TL in three years, mostly in the country.

According to the news in Hürriyet newspaper; Borusan Holding CEO Erkan Kafadar, who gave information about the past financial results and future plans of Borusan Holding, whose foundations were laid with Istikbal Ticaret, which trades in iron and steel 78 years ago, said that they closed last year with a turnover of 47 billion liras, and that they had achieved in 2021. announced that the profit before tax is 3 billion TL. Nearly half of the aforementioned turnover was obtained from the pipe and steel investments of the group. The turnover target for this year has been determined as 82 billion dollars. Borusan, which has set a new investment target of 12 billion liras between 2022-24, plans to make 80 percent of the said investment domestically. CEO Kafadar stated that they will focus on investments in renewable energy and automotive sectors.

NEW FACTORY IN USA

Due to Russia’s war against Ukraine, oil and natural gas investments have gained great importance all over the world. Especially in Europe and the USA, new pipeline projects gained momentum in order to reduce their dependence on Russia. This process also significantly increased the demand for companies producing pipes that transport oil and natural gas. Stating that all production of Borusan Mannesmann Pipe US operating in the USA in 2022 is connected to orders, Erkan Kafadar noted that all of the demand comes from the USA. Kafadar noted that they have rolled up their sleeves for a new facility with an investment of 50 million dollars. With the said investment, Borusan’s annual production capacity in this country will reach 400 thousand tons.

THE GROUP WILL FOCUS ON 4 AREAS

Noting that they are acting with the target of Borusan being a 200-year-old company, Kafadar noted that their new growth approach will be shaped through 4 different areas. Accordingly, innovative solutions in the fields of renewable energy, automotive, investment in startups and construction equipment stand out as Borusan’s areas of focus. Borusan Holding CEO Kafadar noted that they will invest in businesses with growth potential under the roof of corporate venture capital. Borusan Holding, which invested 790 million TL in digitalization in the 2019-2021 period, aims to double this investment in the next 3 years.


labels


Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.

*The article has been translated based on the content of bigpara- GÜNDEM by bigpara.hurriyet.com.tr. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!