Published On: Mon, May 29th, 2017

Turkish polyester fiber company Sasa increases amount for new investment

SASA is a Turkish company known as the leading producer in the world for polyester staple fibers, filament yarns, polyester-based and specialty polymers and intermediates (DMT). The company is to make new investments and has decided to increase the investment amount for its new production facility from 7.2 billion TL to 12.8 billion TL.

In a statement made to the KAP by the company, it was declared that the amount of new investment project for the establishment of a PTA, MEG and polymer production plant, planned to be finished in 6 years, was increased from TL 7.2 billion to TL 12.8 billion and the duration of investment was updated as 8 years – The investment is to be realized within the scope of “Providing Project-Based Government Assistance to Investments”.

The statement also said that the company continued negotiations with the Ministry of Economy and Energy and Natural Resources for the purchase, allocation or lease of 2.9 million square meters of land in Hatay-Dörtyol, owned by the Turkish Petroleum Corporation.

On the other hand, it has also been reported in the bulletin published by the SPK (CMB, Capital Market Board) that online transactions and open sales for Sasa Polyester were prohibited for 3 months.

Between April 3 and May 26, the value increase in Sasa Polyester was 142.16 percent. The share rose to TL 8.39 from TL 3.46. During the period, TL 8,84 was also seen.

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