China’s Alibaba prepares USD1B funding in Turkey to expand in Middle East, Europe

2023-01-09 01:52:49

(MENAFN) Chinese e-commerce large company Alibaba Group Holding Ltd. is preparing to establish a logistics center at Istanbul Airport as well as a data hub close to the Turkish capital city of Ankara with a funding of higher than USD1 billion, its leader, Michael Evans, was quoted as stating.

Turkey’s Sabah newspaper mentioned in a report quoting Evans as saying in a meeting that the firm was seeking to grow its investment in Europe as well as the Middle East and on top of that that he considers Turkiye as a very solid manufacture location.

“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 USD 1 billion,” Evans was recited as he went further on.

Trendyol, one of Turkey’s well known e-commerce companies, is supported by Alibaba.

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